Debt collection can involve for 2 phases, the first a person getting "delicate collection" which is the outside of court docket try with the firm to gather the client's debt on a "no collection no charge" foundation and the next period which includes court docket proceedings as well as usage with the firm of all implies supplied by the legislation for that Restoration of the debt.
Based on Cypriot regulation, It is far from required to hire a lawyer to file a lawsuit against your debtor, neither is it required to have an attorney signify you during the legal proceedings.
Within this guide, we dig further into Just about every stage with the debt collection procedure in Cyprus. We have extensive solutions to offer, from finding amicable answers to initiating personal bankruptcy proceedings. rely on us to become by your facet via all of it.
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We normally satisfy the client/creditor in individual or often by speaking via cellular phone or on the internet by way of e-mails or skype.
A lawsuit is going to be prepared by our team of attorneys in Cyprus who will then ask for the shopper to overview it. The assertion of Claim will include things like all amounts because of plus the prices compensated via the client with the debt collection procedure
Our goal is to gather the additional curiosity and charges from the debtor; however, this will depend on the character of one's scenario. without having get rid of No fork out debt collection in Cyprus, it is possible to count on the following:
even so, given that attorneys Have a very legitimate motive to find out, all info in the debtor, and especially all information and that is publicly available (as an example if they are attained the Registrar of providers in Cyprus) can be employed via the legal professionals.
Regardless of the emphasis on amicable resolution, scenarios may come up the place transitioning to authorized action gets unavoidable. Indications for this transition include things like persistent non-conversation, habitual breach of repayment agreements, or more info intentional dodging by the debtor.
We strongly believe that in right now’s modern Culture and company globe, Distinctive emphasis need to be positioned upon alternate dispute resolution mechanisms and out-of-court docket settlements for resolving disputes.
This is a legitimate and enforceable judgment that's approved in any Member point out (except Denmark). The European purchase for Payment is never suitable for disputed issues (so not in conditions where There exists an argument with regards to the invoice). The advantage of this procedure are velocity and small charges.
In Cyprus, debt Restoration necessitates navigating by an intricate legal framework. Adherence to those guidelines fosters successful debt Restoration and upholds fair procedures, which are essential for preserving trustworthiness in enterprise dealings.
Anastasios specialises in company legislation matters, insurance policies law and debt collection. Furthermore he has wide expertise in e-money and payment solutions laws.