From straightforward debt collection circumstances to elaborate legal matters, from modest companies to multinationals throughout different industries, our experts have assisted around 24.
in the event that we think that the debtor has no monetary reliability and wouldn't be able to pay the creditor, regardless if a Court judgment against him is sent, we might recommend the shopper that it is not worth pursuing this make a difference in court docket.
critical to This really is recognition of Cyprus's statute of limitations which, in accordance with the Limitation of Actions Law (sixty six(I)/2012), commonly imposes a 6-year period of time for initiating most civil steps, with some types of promises acquiring different durations. This period should be considered along with:
Our Cyprus legal professionals are dedicated to excellence in all parts of assistance and our assistance expectations website implement in all conditions.
If your amicable strategy fails, escalate the make any difference through legal proceedings to get a court docket judgment, important for debt enforcement.
you could Adhere to the correspondence together with your debtor in Cyprus through our Net portal 24/7. Furthermore, your caseworker will usually contact you by telephone or in creating to maintain you knowledgeable on the development within your debt collection in Cyprus.
The debt collection method in Cyprus starts with an evaluation of the debtor’s solvency, his area of activity, the heritage of the company, The supply of documentary evidence of your debt, latest courtroom scenarios and enforcement methods, together with the opportunity of complicated the debt.
It's not generally feasible to trust in the Cypriot lawful system. This can be the scenario Whenever your debtor is situated in Northern Cyprus.
throughout the framework of this technique, it is feasible to judicially cancel fraudulent/fictitious transactions in the debtor geared toward withdrawing their property in an effort to steer clear of debt repayment through the pressured sale of this sort of belongings.
pleasure with the creditor’s needs in the whole process of compelled execution is completed throughout the seizure of money as well as their publish-off, seizure of property with subsequent sale.
option dispute resolution mechanisms, which include mediation and arbitration, may also be available in Cyprus. These generally is a more rapidly and less official technique to take care of disputes and Get better unpaid debts.
In accordance with Cypriot personal bankruptcy regulation, your debtor is considered bankrupt if they do not repay their debts within an inexpensive time frame. In Cyprus, it is possible to file for bankruptcy of the debtor When the claim exceeds 854 euros.
This depends on Each individual condition and debtor. We usually get started within the amicable debt collection phase. This process normally takes a comparatively quick time because we offer your debtor with constrained time to finish the payment. When starting up your case, your scenario employee will deliver an estimate from the length of one's situation.
as being a creditor, we still have a robust leverage Software at our disposal In case your debtor really refuses to pay for: a bankruptcy petition. In Cyprus it is feasible to file for individual bankruptcy of the debtor if they don't pay back.