The debt collection system in Cyprus can be divided into two phases. in the course of the extrajudicial section, collection usually takes position with no court docket intervention.
Our purpose is to deliver a speedy and affordable debt collection assistance to our clients. Our team of lawyers in Cyprus comply with all the traditional collection strategies and will advise the most fitted collection method, obtaining regard on the shopper’s very best interests.
because we function with legal professionals in Cyprus, we could carry out all communication along with your debtor in Cypriot language. This increases the probability of payment even further.
Issuing Court proceedings is the last resort when the debtor just isn't willing to settle his debt without the need for litigation. The shopper/creditor might be advised as to whether it's worthy of going to Court as well as real looking chances of good results in courtroom and collection from the debt.
The next phase is to prepare and deliver a letter of claim to your debtor, calling upon him to pay check here for the debt inside of a fastened time period, typically seven or 10 times. In the event the debtor refuses and/or fails and/or denies to comply with his financial obligations within the established, by us, timeframe, then We're going to request to barter with him.
finally, In the event the negotiations are certainly not profitable, We are going to initiate the proceedings with an authorized court docket versus the debtor.
usually, an easy dialogue may help clarify misunderstandings and expedite debt resolution. When achieving out, it’s vital to:
Our debt collection procedure aims just at combating strategic responses of debtors in not spending whatever they owe although in instances wherever the debtor is genuinely not able to pay back, we offer a versatile technique dependant on the wishes of the consumer.
whether it's with the out-of-court phase, the summary judicial system or insolvency proceedings, The real key will be to act inside the limitation interval and be aware of the options dispute resolution mechanisms available.
The period of authorized proceedings in Cyprus relies on the complexity of your respective scenario and ON whether or not your debtor raises a defence.
In the event your debtor in Cyprus refuses to pay for in the course of the extrajudicial stage, right after discussion along with you, we will head to courtroom in Cyprus .
Learn the way We have now aided other customers with Global collections such as debt collection in Cyprus
In Cyprus, debt recovery necessitates navigating via an intricate legal framework. Adherence to these legal guidelines fosters successful debt recovery and upholds truthful strategies, that happen to be important for retaining trustworthiness in enterprise dealings.
Anastasios specialises in company law matters, insurance plan legislation and debt collection. Furthermore he has wide knowledge in e-dollars and payment solutions laws.