As professionals in Intercontinental debt collection, our specialists can inform you anything you should know when working with cross-border collections and foreign debtors to efficiently recover your payments. determine everything you should know for A prosperous debt recovery in Cyprus.
Our regulation firm specialises in managing both commercial and private debts, and understands the importance of sustaining a professional tactic in debt collection to protect the relationship concerning our purchasers as well as their debtors.
These tables show the top carrying out legislation firms In general within our rankings in this jurisdiction based upon our assessment of aggregated rankings throughout all observe spots.
propose numerous procedures that help them pay back the amounts due in various installments, and thus avoid a higher financial stress.
The period of legal proceedings in Cyprus will depend on the complexity of the circumstance and whether or not your debtor raises a defence.
it is necessary to mention, at this stage, that in the court docket proceedings, there is always a chance of settlement, without the require to succeed in the ultimate court docket phase, specifically the hearing of the situation.
For uncontested statements, There exists a summary judicial system available, and that is a more quickly plus more Price tag-powerful solution than the usual total demo. This process is used for statements that are not disputed with the debtor, and will include things like a court get for payment or the attachment of property.
The collection agencies and regulation firms in Cyprus can also support the creditors in the course of the trials from the debtors.
“Bierens is actually a remarkably efficient and Specialist associate. not merely do they have an excellent debt collection course of action, In addition they give sound suggestions.”
We strategy debt collection skillfully and guide the consumers in all phases on the debt recovery method. Our achievements amount is incredibly significant as we have as many as this date initiated the procedure against much more than 2000 debtors.
We are already working with Antonis Paschalides & Co LLC legislation firm for more than 40 several years now on many alternative jobs (reviewing of contracts, corporate issues, work legislation challenges, illustration in advance of the European Court of Justice around the Cyprus bail in conditions just to call a couple of).
If compelled execution will not cause beneficial success, if there are indications of individual bankruptcy (the debtor is struggling to repay the debt, has fully commited an act of individual bankruptcy, etc.) and presented that the level of the debt is not less than 15,000 euros, then it's recommended to initiate personal bankruptcy proceedings.
In circumstances where the debtor has no property for seizure, take into consideration filing for bankruptcy. If the debtor is now bankrupt, submit your assert promptly for verification.
In Cyprus, amicable debt collection stands out as a cost-productive and romantic relationship-preserving process for reclaiming overdue payments. This non-litigious technique underscores negotiation and here being familiar with, aiming to strike a balance that acknowledges the debtor's situations when safeguarding the creditor's fiscal interests.