cyprus law firm - An Overview
cyprus law firm - An Overview
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Interaction Together with the debtor commences quickly soon after sending the notification by mail, email, phone or quick messengers.
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technique for Debt Collection in Cyprus In Cyprus, debt collection in relation to industrial transactions provides the creditor with automated entitlements. This is predicated on Directive 2011/seven/EU on combating late payment in industrial transactions which gives for the next:
Our precedence would be that the debt is collected in probably the most time effective way and Together with the the very least charges attainable. We therefore seek to avoid litigation wherever doable. In many situations, We're going to accumulate the debt inside couple of months by just sending a letter of demand from customers, through which we claim the quantity owed to our consumer.
able sources might be squandered by the creditor to abide by up on in any other case irrecoverable debts because of and at times, the creditor’s only preference is to deal with the debts as “terrible”.
Furthermore, distinct limitation durations use to sure matters. For claims linked to agreement get the job done, there is a limitation duration of 6 decades.
for instance, we are able to do that by requesting an order of seizure. In that case, the court docket appoints a bailiff to seize property from your debtor. it really is even achievable to seize belongings from 3rd get-togethers.
The incredibly initial step we just take is to carry a gathering or simply a meeting call While using the consumer, depending on the availability from the shopper, to discuss the case, critique and look at all essential documentation and see what legal choices can be found under the specified situations.
need to we believe that the debtor has no economical trustworthiness and would not shell out Despite having a Court judgment inside our palms, we'd then recommend the consumer It isn't worth pursuing this matter in court docket. This is, nonetheless, infrequently the case as being the debt will be collected correctly in virtually all circumstances.
The duration of legal proceedings in Cyprus will depend on the complexity within your circumstance and ON regardless of whether your debtor raises a defence.
As a number one cross-border debt collection legislation firm, We now have entry to international small business databases and credit stories. Within these databases, we will view your debtor’s credit score standing, establish why the Bill wasn't paid out and refine our strategy appropriately.
If pressured execution won't cause beneficial effects, if you will find signs of bankruptcy (the debtor is not able to repay the debt, has dedicated an act of individual bankruptcy, etc.) and provided that the quantity of the debt is at the least fifteen,000 euros, then it is actually a good idea to initiate individual bankruptcy proceedings.
Although litigation is viewed as A final vacation resort, our firm has a group of seasoned attorneys who are very well-versed in debt collection, from the amicable stage to lawful strategies.
From our knowledge, they are too many those who will opt to settle their debts at this read more preliminary stage and negotiate a payment program.
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