The debt collection method in Cyprus may be divided into two phases. throughout the extrajudicial period, collection will take put devoid of courtroom intervention.
The chance for A prosperous Restoration depends on the character of your debt collection situation. We clear up ninety five% of all scenarios with a contingency basis.
This allows us to observe a flexible and client centered strategy as Component of our debt gathering technique.
Our priority is that the debt is collected in probably the most time effective way and With all the least charges probable. We consequently find to avoid litigation wherever doable. in several circumstances, We're going to obtain the debt in number of weeks by basically sending a letter of demand from customers, through which we claim the quantity owed to our client.
Filing a Defence In case the debtor information an visual appearance, then He'll even have to file a defence to your claim.
it is possible to Keep to the correspondence with the debtor in Cyprus through our World wide web portal 24/7. Also, your caseworker will generally contact you by cellphone or in crafting to help keep you informed about the progress of your debt collection in Cyprus.
once the judgment is issued, the treatments of enforcement could start out. The debtor’s property may be item of your enforcement if the court docket decides so.
This process includes sending a payment reminder on our behalf. typically, This is often enough to enforce payment in the exceptional sum.
need to we are convinced the debtor has no fiscal trustworthiness and would not pay back In spite of a court docket judgment inside our hands, we would then suggest the shopper it is not value pursuing this subject in court docket. This is often, on the other hand, hardly ever the case as the debt will be collected effectively in many situations.
To extend the statute of limits, the creditor ought to submit a corresponding software into the courtroom prior to initiating a declare. The limitation time period could be interrupted in situations where the debtor acknowledged the debt in composing or compensated at the least 50% from the debt total, which include accrued interest.
inside the highly unlikely event that we do not acquire anything at all, you will not must spend us any charges. you could find a full overview of our costs on our costs site.
that is a legitimate and enforceable judgment which is approved in almost any Member State (besides Denmark). the ecu Order for Payment is never suitable for disputed issues (so not in situations the place There may be an argument with regard to the Bill). The advantage of this technique are velocity and lower charges.
Supreme Court: within the apex of your court hierarchy stands the Supreme Court of Cyprus. It capabilities as the two an appellate court for reduced courtroom decisions and a court of 1st instance for constitutional and administrative legislation circumstances. This courtroom guarantees the uniform application and interpretation of click here regulation in the course of Cyprus.
Even if they are able to do the job with collection companies, It's also popular to make use of the companies of lawyers in Cyprus who can provide tailored assistance in accordance Together with the provisions on the Civil Code.