5 Simple Techniques For debt collection cyprus
5 Simple Techniques For debt collection cyprus
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As professionals in Global debt collection, our authorities can tell you everything you should know when coping with cross-border collections and foreign debtors to correctly Get well your payments. determine almost everything you need to know for a successful debt recovery in Cyprus.
SCORDIS, PAPAPETROU & Co LLC is usually a dynamic and main legislation firm in Cyprus whose roots date from 1922. right now it's over 30 specialized legal professionals which is renowned for its sturdy Worldwide corporate and dispute resolution apply and know-how.
If this stage does not convey the predicted results or just after an Original Examination it turns into apparent that it's not applicable, you should progress to recovery through the techniques supplied for by law.
We manage all out of courtroom circumstances over a No Cure No fork out basis, also for debt collection in Cyprus. The setting up price is €185,- for administrative expenditures. We intention to Get better the principal quantity which include curiosity and costs from your debtor.
The next move is to arrange and send a letter of declare to your debtor, calling upon him to pay the debt inside a set period, typically 7 or 10 days. If your debtor refuses and/or fails and/or denies to adjust to his monetary obligations throughout the set, by us, timeframe, then We are going to look for to negotiate with him.
if you want help inside a debt collection in Cyprus, we invite you to Make contact with our Cypriot law firm.
The global financial crisis could not but have prolonged to Cyprus, far too, and money transactions happening in Cyprus. Liquidity becoming a significant trouble, it's currently paramount for firms to collect whatever they are owed for goods and/or companies delivered.
The first step in the debt collection course of action in Cyprus is the out-of-court phase. This is where the creditor makes an attempt to collect the debt as a result of negotiation and interaction With all the debtor.
Antonis Paschalides & Co LLC regulation firm has been our external counsels for our small business action in Cyprus for the last five a long time. We consult them on many alternative jobs (company issues, Level of competition legislation, employment law difficulties, marketing regulation, intellectual house law and so on).
We solution debt collection professionally and guide the customers in all phases with the debt recovery course of action. Our results price is quite superior as We've up to this date initiated the process against over 2000 debtors.
just in case the amicable section proves being ineffective and all attempts to Recuperate the debt are already fatigued, we might then advocate to proceed for the judicial collection phase. Our major issue is usually our consumers’ very best fascination, for that reason, just before submitting any legal measures the case is examined in detail as well as the authorized view is provided to our purchasers for their thought, outlining the achievements or the chance things of the situation.
George Y. Yiangou LLC could support and act on behalf of our purchasers with discretion, professionalism and sensitivity on any debt collection matter in Cyprus.
Supreme courtroom: in the apex from the court hierarchy stands the Supreme court docket of Cyprus. It functions as the two an appellate court for lower court docket choices along with a courtroom of initial occasion for constitutional and administrative click here regulation instances. This court docket ensures the uniform software and interpretation of regulation through Cyprus.
like a creditor, we however have a strong leverage Resource at our disposal If the debtor really refuses to pay for: a individual bankruptcy petition. In Cyprus it is feasible to file for individual bankruptcy of your respective debtor if they do not pay back.
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