The debt collection course of action in Cyprus is usually divided into two phases. throughout the extrajudicial section, collection takes put without the need of Court get more info intervention.

Our goal is to deliver a speedy and cost-effective debt collection support to our consumers. Our crew of attorneys in Cyprus observe all the standard collection procedures and will endorse the most suitable collection strategy, possessing regard towards the customer’s greatest pursuits.

Debt collection companies, for example Debitura, Participate in an important purpose in facilitating amicable debt recovery in Cyprus. By leveraging their know-how and sources, these agencies initiate the Restoration method via adept identification of debts and debtor situation, next up with strategic communication attempts.

Writ of Movables/Immovables This move relates to the attachment with the judgement to movables or immovable assets and requesting their sale.

If we use the ecu smaller statements course of action, we could post your claim into the courtroom within your region. The court docket will then ahead the declare for your Cypriot debtor. Your debtor can increase objections, and both equally parties can submit electronic evidence. The judge may even organize a videoconference Listening to.

It is important to mention, at this time, that in the course of the court docket proceedings, there is often a possibility of settlement, without the need to achieve the final courtroom phase, specifically the Listening to of the case.

software to examine the financial situation from the Debtor making use of for the courtroom and requesting the examination on the debtor’s fiscal condition and requiring the debtor to pay to your creditor an installment every month.

During this guide, we dig deeper into Every single phase from the debt collection method in Cyprus. Now we have complete answers to provide, from finding amicable alternatives to initiating bankruptcy proceedings. rely on us to generally be by your side via it all.

Antonis Paschalides & Co LLC regulation firm has long been our external counsels for our company exercise in Cyprus for the final 5 years. We check with them on many various tasks (corporate matters, competition legislation, work regulation concerns, marketing regulation, intellectual property law etc).

Collection of receivables in Cyprus is completed by filing a claim beneath the typical or option technique (within the absence of a big dispute about the specifics) and thru a simplified procedure.

We recognise that late payment is a typical concern faced by companies in Cyprus, and that past thanks accounts and defaulted payments might have an important effect on the economical passions and profits of a business.

we have been always committed to offering a high quality of client treatment and legal assistance throughout all our exercise regions.

The choose will examine all submitted evidence. Then, a hearing are going to be scheduled. through the hearing, both the creditor and also the defendant have the opportunity to substantiate their arguments. equally parties can request the choose to summon witnesses. finally, the decide will render a call.

These safeguards be certain a systematic technique in direction of debt Restoration in Cyprus, putting a equilibrium involving economical debt collection and defense of buyer legal rights from unjust collection tactics.