Our choice is to collect your assert devoid of courtroom intervention. consequently, we constantly start a collection in the amicable section. If this has no outcome, then we progress with court motion. However, we usually accomplish that in consultation along with you to start with.

Debt collection in Cyprus normally begins from the extrajudicial period in which we mail your debtor personalized desire letters and phone them by cell phone. Should your debtor disputes the declare or fails to reply, then we can proceed by having legal motion in consultation with you.

just in case all endeavours to conclude the debt collection in Cyprus as a result of negotiation usually do not carry the effects We are going to then proceed with the following step which is to deliver a letter of demand on behalf of our clientele.

 A Component of our workforce of legal professionals in Cyprus are accredited mediators who practical experience in mediation proceedings, we have the know-how of what it will take to generally be a negotiator. We use these techniques to reinforce our Cyprus debt collection procedure and supply the optimum result to the shopper.

Should the debtor files an objection, the court summons the plaintiff to inform his posture on the situation and, if it considers the debtor’s objection to get justified, cancels the payment buy. In cases like this, the case is matter to consideration in civil proceedings. In the event the debtor does not post any objections to your court docket, the payment order acquires the power of a closing final decision. The European Payment buy is acknowledged in all EU member states (except Denmark).

Hearing immediately after several other procedural actions, a date is about for the hearing exactly where both get-togethers current their case by means of their witnesses.

If the debtor genuinely can’t fulfill their payment obligations, the courtroom declares them bankrupt. A trustee is then appointed to assess the assets within your debtor and all creditors. The creditors are repaid just as much as feasible from the property.

If the debtor does not have current court docket circumstances or superb court docket selections on debt collection, and He's actively engaged in commercial routines, then it really is a good idea to utilize the stage of amicable debt collection.

‍This phase is essential for formalizing the debt and enabling even further enforcement actions. Our community of neighborhood attorneys will symbolize your situation in courtroom, delivering experience and familiarity with community legislation.

pleasure of the creditor’s requires in the entire process of compelled execution is completed in the seizure of resources and their publish-off, seizure get more info of home with subsequent sale.

the typical time for casual out-of-court docket collection is up to 60 times (besides in circumstances where by an installment strategy for debt repayment has become agreed upon).

does one need to know more about our debt collection solutions in Cyprus? Get in touch with us for a free consultation.

choice dispute resolution solutions like mediation and arbitration may very well be explored prior to resorting to authorized proceedings. you can find these debt recovery products and services in Cyprus from our lawyers. 

On top of that, a lot of collection organizations only deal with extrajudicial collection. In case the amicable stage fails, you will have to find an attorney in Cyprus your self to initiate authorized proceedings.