inside our practical experience, by this stage, a number of debtors will probable proceed with payment from the quantities owing. nonetheless, When the debtor does not adjust to time frames described from the letter of need, our team of attorneys in Cyprus will carry on with recovering the debt via the authorized route – i.e. the submitting of a lawsuit during the courts of Cyprus.
According to Cypriot legislation, It isn't obligatory to hire an attorney to file a lawsuit towards your debtor, nor is it necessary to have an attorney signify you over the authorized proceedings.
We are going to always Call your debtor by sending an initial demand from customers letter along with a cellphone get in touch with. this fashion we steer clear of any type of miscommunication. Our tactic is usually firm and respectful, and you will always be informed with the status of your case.
Cyprus is part in the EU. hence, It's not often required to gather your declare through the Cypriot lawful system. you will discover special European strategies to Get better cross-border promises. These techniques happen to be recognized to make it much easier to gather unpaid expenditures abroad (but throughout the EU).
regardless of whether collection organizations may be used, Additionally it is attainable to ask for authorized assistance, specially when managing vital quantities that need to be recovered.
if you want support in the debt collection in Cyprus, we invite you to definitely Make contact with our Cypriot law firm.
Debt collection in Cyprus always starts within the extrajudicial phase in which we mail your debtor customised need letters and make contact with them by phone. If your debtor disputes the declare or fails to respond, then we can easily continue by taking authorized motion in consultation with you.
Our lawyers have substantial encounter representing banks together with other financial institutions in debt recovery matters, guaranteeing the economical enforcement of their legal rights along with the Restoration of exceptional debts.
Antonis Paschalides & Co LLC legislation firm has been our exterior counsels for our enterprise action in Cyprus for the last 5 yrs. We consult with them on numerous jobs (company issues, Opposition regulation, employment law troubles, promoting legislation, mental house regulation etcetera).
To extend the statute of limits, the creditor have to submit a corresponding application towards the court in advance of initiating a declare. The limitation time period may very well be interrupted in situations exactly where the debtor acknowledged the debt in creating or paid no less than 50% of your debt amount, together with accrued curiosity.
When the judge helps make a ruling, check here the authorized expenditures of the successful get together are typically awarded into the dropping social gathering. These costs is usually gathered together with the initial debt, for example by seizure of property.
Specialising in debt collection we Blend professionalism and intensive practical experience of the authorized method having a industrial and useful approach to debt collection.
Cypriot debt collection functions are controlled by shopper security guidelines, prohibiting abusive or harassing practices from the collection course of action.
The payment purchase is then sent in your debtor. The debtor has the opportunity to file an objection to the assert. If that does not occur, we can easily enforce the eu Payment get by seizing property from your debtor.