5 Simple Techniques For debt collection cyprus
If it is not possible to gather the debt by an amicable method, you have got the choice to initiate legal proceedings. under, we clarify what both of those the extrajudicial and amicable phases entail in Cyprus.
Enforcement can be utilized for as much as ten years after a judgement is issued. The court enforcement techniques which our team of Cyprus lawyers will carry out on behalf of the creditor are:
There's a closing date within which creditors can legally pursue debt collection in Cyprus, ordinarily six yrs within the day of default.
Writ of Movables/Immovables This phase relates to the attachment on the judgement to movables or immovable house and requesting their sale.
If we use the European tiny Claims process, we can post your assert on the court within your state. The court will then forward the claim in your Cypriot debtor. Your debtor can increase objections, and both equally get-togethers can post electronic evidence. The judge may perhaps even organize a videoconference Listening to.
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This could certainly consist of sending desire letters, creating telephone phone calls, or even visiting the debtor in particular person. If your debt is uncontested as well as debtor is willing to spend, This may be a quick and effective technique to recover the debt.
gathering debts in Cyprus encompasses reminder issuance, repayment negotiations, lawful action initiation or simply reporting defaulters to credit score businesses.
Antonis Paschalides & Co LLC legislation firm has long been our external counsels for our enterprise exercise in Cyprus for the final five years. We consult them on numerous initiatives (corporate issues, Opposition legislation, work regulation concerns, marketing and advertising law, intellectual home regulation and so on).
Our distinctive method of debt collection ensures that we provide distinct know-how and also a customised solution that fulfills the person wants of our clients, while also decreasing prices and escalating the check here quantities that they're ready to collect.
The amicable route gives numerous pros for all events associated. Creditors circumvent the significant fees linked to lawful proceedings and simultaneously protect a must have company associations, because of the process’s cordial character.
000 organizations around the globe, which includes Cyprus. Find out how our Intercontinental specialists and legal professionals have helped other organizations in an identical scenario and discover the answer for debt collection in Cyprus.
If you need help in chasing a debt, our Cypriot attorneys are at your disposal and can help you in both of those the amicable and court docket proceedings.
Our local attorneys will aid you in navigating the intricate individual bankruptcy method, making sure your declare is submitted appropriately and immediately.