Facts About debt collection cyprus Revealed

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Collection firm requires treatment of the whole collection system, with the amicable phase towards the extrajudicial phase. For this purpose, we function together with a community of bailiffs and attorneys in Cyprus.

SCORDIS, PAPAPETROU & Co LLC is a dynamic and primary law firm in Cyprus whose roots date from 1922. nowadays it has greater than thirty specialized lawyers and is also renowned for its robust Intercontinental company and dispute resolution follow and abilities.

We are going to constantly Make contact with your debtor by sending an Preliminary desire letter plus a phone get in touch with. This way we stay away from any type of miscommunication. Our technique is usually firm and respectful, therefore you will always be knowledgeable with the status of your respective scenario.

Issuing court docket proceedings is the last resort once the debtor just isn't willing to settle his debt without the want for litigation. The consumer/creditor will probably be recommended concerning whether it is really worth likely to court docket and also the real looking probabilities of success in Court and collection of your debt.

treatments for debt collection involving get-togethers in various countries are subject to international agreements and polices. you may get information from our legal professionals in this regard. 

To entail a bailiff in Cyprus, it really is very important first to secure a lawful judgment or purchase demanding the debtor to fulfill their economical obligations. Upon obtaining these types of an get, bailiffs undertake many tasks including the supply of lawful paperwork to debtors, confiscation of assets to fulfill the debt, and negotiation of payment plans in accordance with court directives.

A lawsuit will likely be geared up by our group of attorneys in Cyprus who will then request the customer to assessment it. The Statement of Claim will incorporate all quantities thanks together with the costs paid out by the client for your debt collection course of action

This stage will involve active negotiations With all the debtor to achieve an settlement to pay for the creditor’s promises or other doable settlement possibilities (as an example, return of products, transfer of debt to a 3rd party, exchange of products and services or merchandise).

The authorized technique in Cyprus relies to the widespread regulation system, Using the Supreme court docket getting the highest court docket of charm. The courtroom procedure for debt collection is often prolonged and expensive, but it is a essential move for creditors with unpaid, uncontested promises.

When the debtor is not aware of the letter We're going to find to barter with him on the telephone. lots of debtors will opt to settle the debt at this early phase and negotiate a payment prepare.

in the event the amicable phase proves to become ineffective and all efforts to recover the debt are already fatigued, we might then endorse to commence for the judicial collection phase. Our principal concern is usually our purchasers’ finest desire, hence, before filing any authorized actions the situation is examined intimately as well as authorized viewpoint is supplied to our purchasers for his or her consideration, outlining the accomplishment or the risk elements of the case.

A debt collection company can deal with recovering your cash. Our goal is to make sure that our clientele receive what they are entitled to as promptly as possible.

Antonis Paschalides & Co LLC has traditionally represented the key banking establishments of Cyprus more info in collection of their nearby debts and it has lately been engaged by quite a few international clients wishing to collect from Cyprus primarily based persons or organizations.

The judgment fees are often compensated from the defendant but it surely’s not a normal rule, the decide may possibly dispose that both of those parties need to fork out their component.

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