If a debtor is insolvent, creditors may well initiate personal bankruptcy proceedings, possibly leading to the liquidation of assets to fulfill debts.
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In Cyprus, the civil court docket technique is intricately structured to make certain complete and reasonable legal proceedings. It displays the place's adherence to equally nearby and European Union lawful requirements, catering to a wide array of civil disputes together with debt collection.
Our Global debt collection legal professionals as well as your assigned caseworker may help you further and make clear anything you have to know for A prosperous debt collection in Cyprus.
The period of authorized proceedings in Cyprus will depend on the complexity of your respective scenario and whether or not your debtor raises a defence.
It is important to mention, at this time, that through the court docket proceedings, there is always a chance of settlement, without the will need to reach the final Court stage, particularly the Listening to of the situation.
submitting a lawsuit from the debtor is the ultimate move inside our Cyprus debt collection procedure prior to initiating execution with the judgement for the quantities owing.
the initial step during the debt collection system in Cyprus is the out-of-court docket stage. This is when the creditor tries to collect the debt through negotiation and conversation Together with the debtor.
“Bierens is often a extremely productive and Skilled associate. not simply have they got a superb debt collection method, Additionally they give strong assistance.”
We approach debt collection professionally and help the purchasers in all phases from the debt Restoration procedure. Our success charge is incredibly superior as We have now up to this day initiated the process from much more than 2000 debtors.
whenever a Invoice or invoice continues to be unpaid, the first step is to try collection via extrajudicial or amicable suggests. The extrajudicial section entails all initiatives to collect the debt without the need of involving the courts. In 9 from 10 circumstances, This can be ample to recover your hard earned money.
After the last court docket judgment is delivered and In the event the debtor keeps refusing and/or failing and/or denying to comply with his fiscal obligations plus the courtroom judgment versus him, we can proceed appropriately and use the next strategies to be able to execute the court docket judgment from him:
Our specialists and attorneys often do their utmost to make sure to collect your declare as quick and successfully as feasible. We always Ensure that you Supply you with trustworthy and simple guidance which will produce here you the very best benefits.
Anastasios specialises in company law matters, insurance policies legislation and debt collection. On top of that he has huge expertise in e-cash and payment products and services laws.