During this guidebook, we dig further into Every stage of the debt collection system in Cyprus. We have detailed options to supply, from finding amicable remedies to initiating bankruptcy proceedings. have faith in us for being by your facet by way of it all.

a firm in a debt recovery condition should request a quick and economical resolution just before it adversely impacts business processes.

From simple debt collection situations to intricate legal matters, from compact corporations to multinationals throughout various industries, our experts have assisted over 24.

In Cyprus, a proper judgment is the legal recognition of the debt obligation by a court. Obtaining a courtroom order is very important for debt recovery, as it provides the legal basis for implementing the claim against the debtor’s assets. the procedure starts with submitting a Writ of Summons at the District courtroom, followed by serving the lawsuit to the debtor.

no matter if you end up picking to consult us in possibly the extrajudicial or judicial debt collection stages in Cyprus or overseas, our Business office is prepared to assist you.

As an international debt collection specialist, we tackle several different types of statements in Cyprus. We collect excellent invoices together with payment promises. We may also mediate in rental and purchase disputes.

greater plus much more challenging circumstances needs to be offered towards the District Courts according to the worth in the declare and geographical jurisdiction things to consider.

Debt collection in Cyprus doesn't have to generally be an advanced procedure. With Bierens by your side, we will let you defeat the language, cultural and lawful discrepancies that click here come up when dealing with debt collection in Cyprus.

Based on Cypriot legislation, It isn't mandatory to hire an attorney to file a lawsuit versus your debtor, nor is it required to have a lawyer depict you in the course of the legal proceedings.

It isn't generally doable to rely upon the Cypriot authorized method. This can be the circumstance Whenever your debtor is found in Northern Cyprus.

overall flexibility in payment conditions will help in recovering dues whilst catering on the debtor’s economical condition. To suggest a fair approach:

Debt Settlement: Facilitating debt settlements that fulfill both the creditor’s requires as well as the debtor’s ability to pay.

It's important this mechanism won't extremely encumber the debtor's ability to meet fundamental requirements. Legal stipulations are set up in Cyprus to cap garnishments to the part that leaves people today with ample implies for residing expenses.

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