Typically, In case the procedure for debt professing is not disputed, the standard time from the problem of proceedings towards the judgment doesn’t acquire for a longer time than a month.

We technique debt collection professionally and aid the clientele in all phases of your debt recovery technique. Our good results charge is extremely high as Now we have up to this day initiated the process from greater than 2000 debtors.

ready methods may be wasted via the creditor to comply with up on if not irrecoverable debts owing and sometimes, the creditor’s only alternative is to deal with the debts as “poor”.

repercussions of non-payment of B2B debts in Cyprus may perhaps contain harm to the debtor's credit history score, authorized motion leading to asset seizures, or likely limits on conducting enterprise functions.

Duly making use of to protected promises even just before initiation of court proceedings or in study course of courtroom proceedings,

we're a modern boutique Cyprus Law Firm. We have An effective track record and we continually try in direction of prosperous representation of our consumers. Our vivid, insightful and intuitive group aims for being at the innovative of best apply in Cyprus.

To initiate this process, creditors or their authorized Reps ought to submit the appropriate paperwork to your courtroom, outlining the character in the debt plus the failure of the debtor to settle their obligations.

In principle the statute of limits in Cyprus is ten years. this era commences after you just take action towards your debtor, one example is, by sending a reminder or even a desire letter.

Among the many people who will seem before the Nicosia district courtroom on Oct 30 are Demetriades, who stated on Monday he was staying produced a scapegoat Which his targeting was predetermined.

Despite the emphasis on amicable resolution, predicaments may possibly come up where by transitioning to legal motion will become more info inescapable. Indications for this transition include persistent non-communication, habitual breach of repayment agreements, or intentional dodging through the debtor.

On April 27, 2021, the interim conclusions of an investigation into your citizenship-by-expenditure plan ended up launched, recording a litany of irregularities and outright unlawful methods while in the granting of Cypriot passports down the several years.

expenditures and fees: Creditors can Recuperate debt volume, €40 as Restoration expenditures, and authorized expenses from effective lawsuits.

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Our goal is to supply a speedy and affordable debt collection service to our clients. Our group of legal professionals in Cyprus observe all the conventional collection strategies and will suggest the best suited collection tactic, owning regard towards the shopper’s finest pursuits.