The 2-Minute Rule for cyprus law firm
The 2-Minute Rule for cyprus law firm
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Interaction with the debtor commences immediately right after sending the notification by mail, e mail, telephone or instantaneous messengers.
SCORDIS, PAPAPETROU & Co LLC is often a dynamic and main law firm in Cyprus whose roots date from 1922. currently it has much more than 30 specialised legal professionals and is also renowned for its solid Global company and dispute resolution follow and know-how.
Debt collection companies, for example Debitura, Engage in a crucial function in facilitating amicable debt Restoration in Cyprus. By leveraging their abilities and assets, these companies initiate the recovery process via adept identification of debts and debtor conditions, subsequent up with strategic communication makes an attempt.
it doesn't matter the problem, it is best to first reach an arrangement Using the debtor ahead of taking any further steps. This is often why, There's two strategies through which debt recovery can take place in Cyprus.
nonetheless, in some instances, it's recommended to seek authorized guidance from an attorney, particularly when the stakes are high. which is why Collection firm collaborates with leading legal professionals in Cyprus.
usually there are some forbidden procedures inside the Cypriot debt collection course of action to get a debt collector or law firm to use in his attempt to find out a debtor to pay its dues.
Our Worldwide debt collection Lawyers have substantial working experience and knowledge of legislation and laws in Cyprus. We be certain to own your debtor approached by cellular phone and in creating in Greek or Turkish.
if you want help in debt collection in Cyprus, we strongly recommend our providers. With many years of practical experience in civil regulation issues, our lawyers will help area and international organizations to recover excellent debts from their shoppers and clientele. We also are in the disposal of those that have to have other legal solutions.
at last, in cases in which the debtor is insolvent, insolvency proceedings can be initiated. this is the authorized system where the debtor’s property are liquidated and distributed amid creditors.
The first step should be to ship a letter towards the debtor asking that he pays the debt within just a certain timeframe (usually ten times).
every time a Invoice or Bill stays unpaid, step one is to try collection by way of extrajudicial or amicable implies. The extrajudicial phase involves all endeavours to collect the debt with out involving the courts. In 9 away from 10 instances, this is enough to Recuperate your money.
must the negotiations fall short and there's no other possibility we will transfer ahead with issuing court docket proceedings. That is only if we experience that there is a Excellent probability of achievement in courtroom and good results in amassing the debt.
Cyprus’ financial state is created of varied sorts of get more info companies In line with their sizing, but additionally of differing types of shoppers. This can be why when addressing debt Restoration, the 1st part to look at is the type of buyer that has did not fulfill his/her fiscal obligations then make a decision on the method to recover the outstanding amount of money.
like a creditor, we even now have a robust leverage tool at our disposal if your debtor really refuses to pay for: a individual bankruptcy petition. In Cyprus it can be done to file for individual bankruptcy of your respective debtor if they do not pay.
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