The 2-Minute Rule for cyprus law firm

The 2-Minute Rule for cyprus law firm

Blog Article

Debt collection can have to have for 2 phases, the initial a single staying "delicate collection" and that is the out of courtroom try via the firm to gather the customer's debt on a "no collection click here no price" basis and the second period which will involve courtroom proceedings along with the usage by the firm of all usually means supplied by the regulation for that Restoration of the debt.

occasionally, recovering your payment by deploying intensive measures might not be the most fitted program of motion. We understand that with particular buyers, it is necessary on your Firm to keep up a protracted-phrase partnership.

If this stage won't deliver the anticipated final results or just after an Preliminary Evaluation it becomes distinct that it's not relevant, you ought to carry on to recovery throughout the treatments supplied for by legislation.

Our priority would be that the debt is gathered in the most time efficient way and While using the the very least expenditures feasible. We therefore look for to stay away from litigation anywhere doable. in several cases, We'll accumulate the debt in just couple of months by simply sending a letter of need, by which we declare the quantity owed to our client.

However, in some cases, it can be highly recommended to hunt authorized support from a lawyer, specially when the stakes are higher. That is why Collection corporation collaborates with major lawyers in Cyprus.

Listening to After several other procedural methods, a date is about for the hearing where by each functions existing their scenario via their witnesses.

Chambers & Co can help with debt restructuring and negotiations, aiding clientele access mutually advantageous agreements with their debtors although avoiding expensive lawful disputes.

Cyprus is a party to Intercontinental treaties facilitating the recognition and enforcement of international judgments for cross-border debt collection. 

Sometimes, when a corporation is experiencing economic troubles, it’s difficult to pay the creditors. During this Excellent instances, collection companies or a regulation firm in Cyprus can be employed to Get well a few of the creditor’s losses. Usually, You will find there's price or a part of the recovered debt that needs to be compensated to these organizations.

We need to file your declare with among the list of 5 district courts over the island (in Nicosia, Limassol, Larnaca, Paphos, or Famagusta). We make this happen by getting ready a see of default and sending it on the court.

This implies obtaining out just as much as feasible concerning the debtor and about his monetary position. Then, our attorneys in Cyprus will create a letter of assert and deliver it into the debtor, summoning her or him to acquit the debt in just a particular time period, generally of 7 to ten days.

this is the legitimate and enforceable judgment which is recognized in almost any Member condition (apart from Denmark). the ecu get for Payment is rarely suitable for disputed matters (so not in situations the place There may be an argument with regard to the Bill). The advantage of this procedure are velocity and lower prices.

Also, the credit history collector can not use Phony statements in its makes an attempt to recover the dues or using another identity. Accusations of any type can not be tackled into the debtor.

We goal to deliver benefit for all our clients and welcome suggestions on any aspect of the assistance we provide.

Report this page