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Your German Debtor asks for Relief from Payment?

Then you should use this opportunity to obtain a so called "abstraktes Schuldanerkenntnis" (an autonomous acknowledgement of debt) from your German debtor. This is sometimes also called "selbstständiges Schuldanerkenntnis" or "Schuldversprechen". In other words: You agree to grant the debtor a moratorium (or a deferred payment) of a few weeks or months, but only under the condition that the debtor signs a Schuldanerkenntnis (a formal "I owe you"). Such a written debt acknowledgment according to…
Bernhard Schmeilzl
January 24, 2018