Debt collection can demand for two phases, the first one becoming "comfortable collection" and that is the out of court docket endeavor via the firm to collect the client's debt over a "no collection no charge" basis and the 2nd stage which entails court proceedings and also the use by the firm of all implies offered by the regulation for your recovery of the debt.
SCORDIS, PAPAPETROU & Co LLC is really a dynamic and foremost legislation firm in Cyprus whose roots date from 1922. nowadays it's greater than thirty specialized lawyers and is renowned for its solid Intercontinental company and dispute resolution follow and experience.
you'll be able to count on our debt recovery attorneys to assist you take care of problems efficiently and quickly, making certain that your organization doesn’t practical experience the slightest situation.
Our Global debt collection attorneys and also your assigned caseworker will let you additional and demonstrate every thing you need to know for An effective debt collection in Cyprus.
in the event the debtor doesn't regard their economical obligations inside of this timeframe, our attorneys will then try to barter with him or her. within our expertise, there are actually various debtors who'll prefer to settle their debts at this point.
Though Cyprus firms do supply considerable security as to one's anonymity it is crucial for impacted get-togethers to understand that Cyprus legislation offers safety to creditors and somebody simply cannot simply "hide" guiding a Cyprus enterprise.
it ought to be noted that the courtroom can implement the freezing with the debtor’s bank account or even to challenge an order versus any immovable house the debtor has.
This phase involves active negotiations with the debtor to achieve an agreement to pay for the creditor’s claims or other possible settlement alternatives (by way of example, return of goods, transfer of debt to a third party, Trade of providers or goods).
Antonis Paschalides & Co LLC legislation check here firm has long been our exterior counsels for our enterprise activity in Cyprus for the final 5 several years. We seek advice from them on a variety of assignments (corporate issues, Opposition legislation, employment law difficulties, marketing regulation, intellectual home regulation etc).
When dealing with debt collection in Cyprus, you are able to depend on Bierens. when our gurus find the solution you'll need, it is possible to resume organization as usual. We may help you with the subsequent circumstances:
Debt collections can not only be enforced in Cyprus but judgments might be executed overseas also. In other words Though a debt could possibly be made in Cyprus though the debtor is afterwards transferring out of your region, we may well move forward with submitting of the courtroom action in Cyprus, serve the defendant abroad, then hold the judgment issued in Cyprus and thereafter have it executed for the debtors nation or state of home.
following the closing Court judgment is shipped and if the debtor keeps refusing and/or failing and/or denying to adjust to his financial obligations as well as the Court judgment against him, we could carry on appropriately and use the following treatments in order to execute the Court judgment against him:
The debt collection course of action is often elaborate and challenging for the people new to it. Our team of gurus is here that can assist you have an understanding of the method and navigate it without difficulty. Get free professional suggestions on your own specific circumstance, provided by our workforce of knowledgeable specialists.
regardless of whether they will work with collection businesses, it is also typical to use the companies of attorneys in Cyprus who can offer customized help in accordance Using the provisions from the Civil Code.