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The debt collection procedure in Cyprus can be divided into two levels. over the extrajudicial period, collection normally takes spot devoid of courtroom intervention.
Debt collection in Cyprus often commences inside the extrajudicial section wherever we send your debtor custom-made desire letters and speak to them by phone. Should your debtor disputes the claim or fails to respond, then we can progress by taking authorized action in session with you.
because we perform with attorneys in Cyprus, we can easily perform all conversation using your debtor in Cypriot language. This increases the likelihood of payment even more.
To enforce payment from the dues, the debtor needs to be judged by an authorized courtroom. A cost need to be compensated for issuing the case for the court docket. the worth of it is controlled by the corporate Registrar based on the court laws.
even so, sometimes, it get more info is actually highly recommended to seek legal assistance from an attorney, especially when the stakes are higher. That is why Collection business collaborates with major attorneys in Cyprus.
Debt collection in Cyprus may be a complex course of action, but with a transparent knowledge of the legal technique and the techniques concerned, creditors can effectively Get well unpaid debts.
in the course of the judicial period, we do require the court docket in order to make your Cyprus debtor shell out. simply because we've been a law firm, we can aid you through both equally stages. In Cyprus, 95% with the scenarios that we address, is often collected with none courtroom intervention.
Cyprus is a party to international treaties facilitating the recognition and enforcement of overseas judgments for cross-border debt collection.
in the framework of this treatment, it is possible to judicially cancel fraudulent/fictitious transactions in the debtor aimed at withdrawing their property so as to stay clear of debt repayment with the pressured sale of this sort of assets.
Considering that if achieving courtroom proceedings, a decide can dispose with the thanks quantities to become withheld straight from the debtor’s bank account, achieving an amicable arrangement is frequently the decided on route.
inside the really unlikely party that we do not obtain everything, you will not should fork out us any service fees. you could find a complete overview of our charges on our costs web site.
service fees and fees: Administrative charges start from €185 for initiating the collection process, with more charges according to case complexity.
If you need support in chasing a debt, our Cypriot legal professionals are at your disposal and can assist you in each the amicable and courtroom proceedings.
By Doing the job intently with our customers, we goal to expedite the procedure and protected payment on the debt promptly or pursue a judgement to Get better payment.
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