Incorrect collection of reminder fees and interest on reminder fees
In connection with a review of our processes and systems, we have unfortunately found that we may have wrongfully collected interest on reminder fees and too many reminder fees in the same period.
Subsequently, we have also found that we may have collected reminder fees at too short intervals. The errors occurred because our systems were not updated when the
Danish Interest Rate Act was amended in 2005.
Wrongfully collected reminder fees or interest on reminder fees will of course be returned to the relevant customers together with a compensation amount for the period of time that the overcollected amount should have been at their disposal.
You do not have to do anything. We will contact all affected customers as soon as possible. We will make sure that the amount that was overcollected will be returned together with a compensation amount for the period of time that the overcollected amount should have been at the customers’ disposal.
If interest has been paid on reminder fees, or if we have wrongfully collected reminder fees, we will return the overcollected amount. Moreover, we will pay compensation to cover the time that the overcollected amount should have been at your disposal. The time compensation is calculated from the time you were charged interest on a reminder fee or you paid a reminder fee and until the overcollected amount is refunded.
If you receive compensation for interest on reminder fees, please note that the total amount paid to you is subject to tax in the year of payment and must be declared in box 20, ‘Anden personlig indkomst’ (other personal income) on your tax assessment notice. Similarly, businesses must declare the amount on their tax return.
If you receive an amount because we have wrongfully collected reminder fees, only the compensation amount for the period of time that the overcollected amount has not been at your disposal is subject to tax and must therefore be declared on your tax assessment notice or tax return.
Since 1 July 2001, the following rules have been applicable:
As a customer, you generally have at least 10 days to repay outstanding debt without incurring additional costs (see section 10 of the Danish Debt Collection Act).
A reminder fee may be charged when a notice (reminder) is sent with just cause regarding the payment of an overdue amount (section 9b of the Danish Interest Act, previously section 9a). In order for a creditor to send a payment reminder “with just cause”, the claim must be overdue and valid. At the same time, the non-payment of the debt must not be due to circumstances at the creditor. Moreover, if the debtor objects to a payment or reminder, the effect may be that no just cause exists for sending new reminders. This also means that claims falling due around the same time must be collected collectively.
No more than three reminder fees may be charged in relation to the continuing default on the same debt, and reminders must be sent at an interval of at least 10 days. A reminder fee must not exceed DKK 100.
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