If you want or need an account that is safe from your creditor, then what you need is a "P-Konto". Read more to a Pfändungsschutzkonto below!

I heard that I can keep my funds safe from any creditor that wants to sue me. Tell me something about it.

Since 2010, you are entitled to have one so-called “P-Konto”. This stands for “Pfändungsschutzkonto (account exempt from attachment)”. The lawmaker intends to protect the existential minimum funds for living and simultaneously ease the work of courts and their bailiffs, as well as the work for banks having to comply with court orders of attachments.

© Unclesam @ FotaliaHelp my account has been frozen! How can I get such creditor safe account?

When your account is already attached, the process still remains the same. You have to apply for such an account at your bank. You can even demand that this conversion be done within four working days.

How much is exempted? I guess I can now rest assured that I can pay my rent and have something to eat.

Here “exemption” means having an account guaranteeing you to always have at least € 985.15 per month safe from your creditors (§850 c ZPO). The practical affect from such account is that you can still  participate in transferring funds from and to your account. You can also transfer your rent and withdraw your monthly allowance.

Gee, that’s not at lot of money for a household of four. I alone could roughly make ends meet, but not with my wife and kids. What’s their protection?

That’s true, indeed! This basic value of € 985.15 is only for a single adult without any alimony or support commitments. This exemption value can be raised, when you can objectively show that more is needed. Just like in your case. For the first child you get € 307.76 extra and € 206.56 for the second child. Talk to your bank about this.

What about me? I have a chronicle disease that alone costs me € 200 per month.

An exemption for such expenses can also be granted.

How do I show that I have a greater need?

You can use the following to prove your expenses:

  •   notices of Familienkasse on child benefits,
  •   employer,
  •   welfare agency,
  •   etc.
Hey, that’s cool, so I apply for such P-Konto not only for my main account, but also for all my accounts.

Sorry, to disappoint you, but such account can only be given once. For this reason banks are permitted to report to and / or check out an existing P-Konto with SCHUFA.

It sounds too good to be true that all my liquidity issues will be solved. What are the lawmaker’s goals and the advantages of such concept?

Parliament wants to better secure the minimum living wage. Therefore the P-account has the following advantages compared to the previous law:

  •   The protection against an attachment will be automatically applied; you don’t have to fight in court.
  •   You can maintain your normal payment duties via your bank account and are not dependent on cash.
  •   Since it does not matter, if the exempted amount is fully spent or not, you can save for larger regular payments that are due less often in the year (e.g. insurance premiums, taxes).
  •   Less red tape for all participants. Previously, freelancers were privileged with this security. Now it is independent of which kind of money is entering the account.
  •   Income from self-employment as well as voluntary contributions of other people is also protected.


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