The best Side of cyprus law firm

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whether it is not possible to collect the debt by way of an amicable procedure, you might have the choice to initiate legal proceedings. beneath, we describe what both of those the extrajudicial and amicable phases entail in Cyprus.

In case we feel that the debtor has no fiscal reliability and wouldn't manage to fork out the creditor, even when a Court judgment in opposition to him is sent, we'd advise the consumer that it is not truly worth pursuing this make a difference in court docket.

Insolvency Law: specifics the personal bankruptcy proceedings and choices for winding up a corporation, furnishing pathways for creditors to Get better debts from insolvent entities.

In Cyprus, debt collection companies are definitely the pivotal initial step in recuperating overdue payments. Their Main objective is to engage in a dialogue with debtors to inspire amicable settlement of dues by non-judicial indicates. These companies deploy several different methods like correspondence, telephone interaction, and electronic outreach to barter repayment options. it's at this time, ideally in advance of litigious measures grow to be vital, that creditors can opt to include a collection agency.

We also recognize that the Coronavirus might have produced a back log of debts, a few of which happen to be legitimate situations of lack of ability to pay for, while Various other instances relate to strategic conduct from the Debtors not to pay for their debts.

We are fired up to announce that our regulation firm has merged with Haviaras & Philippou L.L.C., a trustworthy regulation firm aiming to serve the customers of both equally firms under the identify of Haviaras & Philippou L.L.C.

For uncontested statements, You will find a summary judicial process obtainable, and that is a a lot quicker and much more Price tag-powerful option than the usual total demo. This process is useful for promises that are not disputed because of the debtor, and might consist of a courtroom purchase for payment or maybe the attachment of assets.

This structured technique in the Cypriot civil court procedure ensures that legal matters are managed with efficiency and precision, delivering a sturdy framework with the adjudication of disputes, like All those pertaining to debt collection.

As an international debt collection professional, we handle different types of promises in Cyprus. We gather fantastic invoices and also compensation promises. We might also mediate in rental and purchase disputes.

Satisfaction from the creditor’s calls for in the entire process of compelled execution is completed throughout the seizure of resources as well as their generate-off, seizure of house with subsequent sale.

the typical time for casual out-of-courtroom collection is approximately 60 times (except in conditions where by an installment approach for debt repayment has been agreed upon).

A debt collection agency can handle recovering your hard earned money. Our purpose is to be sure that our clients receive whatever they are entitled to as immediately as you possibly can.

This relies on Just about every predicament and debtor. We normally start out during the amicable debt collection section. this method can take a relatively quick time due to the fact we offer your debtor with constrained time to accomplish the payment. When starting off get more info your scenario, your scenario employee will provide an estimate from the duration of your situation.

Cyprus Civil Procedure legislation: Governs the filing of lawsuits, provider of writs, and the judicial approach for debt collection, setting up the groundwork for lawful actions against debtors.

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