Should the consumer decides to challenge court docket proceedings in opposition to the debtor In spite of everything other efforts have unsuccessful, inside of a few days We're going to file the claim on the court docket.

Our law firm specialises in dealing with both professional and personal debts, and understands the significance of retaining an experienced technique in debt collection to protect the connection amongst our shoppers as well as their debtors.

During this guide, we dig deeper into Each individual phase with the debt collection course of action in Cyprus. We've got complete options to offer, from getting amicable alternatives to initiating individual bankruptcy proceedings. have confidence in us to generally be by your side by means of it all.

Our precedence is that the debt is gathered in by far the most time productive way and Using the least costs probable. We therefore seek to avoid litigation anywhere possible. in several circumstances, We are going to obtain the debt in few weeks by merely sending a letter of need, by which we declare the quantity owed to our consumer.

the subsequent stage is to get ready and send out a letter of assert on the debtor, contacting upon him to pay for the debt within a fixed time period, generally seven or ten times. Should the debtor refuses and/or fails and/or denies to adjust to his economic obligations in the established, by us, timeframe, then We're going to request to negotiate with him.

there are several forbidden procedures from the Cypriot debt collection method website for your debt collector or lawyer to work with in his attempt to ascertain a debtor to pay for its dues.

The letter despatched on the Debtor is ready by our group of lawyers in Cyprus who require the debtor to pay in (commonly) ten days. The letter is possibly served to your debtor via a courtroom officer or sent by fax, article or e mail.

Restrictions on Enforcement procedures: Debt collection techniques for example asset seizure or garnishee orders require a court judgment, featuring debtors judicial scrutiny of collection efforts.

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Our exceptional method of debt collection ensures that we provide distinct information and also a customised method that satisfies the person demands of our clientele, even though also lowering charges and escalating the amounts that they are in a position to gather.

As a leading cross-border debt collection legislation firm, We've usage of world-wide business enterprise databases and credit rating studies. within just these databases, we can easily see your debtor’s credit history position, figure out why the Bill wasn't paid out and refine our tactic appropriately.

following the closing courtroom judgment is delivered and In the event the debtor retains refusing and/or failing and/or denying to adjust to his monetary obligations and the courtroom judgment versus him, we can easily move forward appropriately and use the next processes to be able to execute the court docket judgment from him:

The courtroom fees rely on the value in the declare and the state by which litigation requires location. In some cases, the amount is preset, nonetheless, Furthermore, it will depend on litigation method. Also, our own lawful charges are integrated at the same time.

A subpoena for confiscation and sale in the surety’s movable home can be emitted. The surety’s movable house need to be Portion of community auctions.