Operating globally in the net money services sector, we constantly need to encounter challenging legal issues that should be addressed Intense urgency. We are Performing intently with Antonis Paschalides & Co LLC regulation firm due to the fact 2013 and will say that they usually provide thoughtful, complete, and, most of all, practical legal information with regards to several different lawful matters.
the worldwide economic crisis couldn't but have prolonged to Cyprus and fiscal transactions occurring in Cyprus. Liquidity currently being a critical challenge, it is actually these days paramount for companies to gather what they are owed for merchandise or services offered.
In summary, debt collection in Cyprus may be a fancy process, but with a clear comprehension of the legal technique as well as the steps involved, creditors can properly Get better unpaid debts.
Chambers & Co has in depth knowledge in managing cross-border debt collection instances. We collaborate with Global associates to be sure a easy and efficient more info Restoration approach for our consumers.
on the other hand, sometimes, it is actually recommended to seek authorized guidance from a lawyer, especially when the stakes are substantial. that is definitely why Collection firm collaborates with major attorneys in Cyprus.
Debt collection in Cyprus doesn't have to be a sophisticated course of action. With Bierens by your aspect, we can assist you defeat the language, cultural and lawful distinctions that occur when working with debt collection in Cyprus. As professionals in international debt collection, our industry experts can inform you everything you should know when handling cross border collections and overseas debtors to successfully Recuperate your payments.
once the judgment is issued, the techniques of enforcement could start out. The debtor’s belongings might be object in the enforcement Should the Court decides so.
When your debtor in Cyprus persistently refuses to pay, there isn't a choice but to initiate authorized proceedings. How this is performed in Cyprus depends upon the amount of the claim.
In selected instances, creditors may possibly examine debt restructuring possibilities, enabling debtors to repay in installments or under modified terms.
steadily, we boost the pressure by means of cellphone calls, SMS or WhatsApp messages, and e-mail. We go on this until the outstanding invoice is paid out. inside a period of three months, there'll be described as a maximum of sixteen times of Get in touch with.
As a number one cross-border debt collection regulation firm, We've got use of world enterprise databases and credit rating studies. Within these databases, we can easily see your debtor’s credit score standing, identify why the invoice was not paid out and refine our technique accordingly.
Based on Cypriot personal bankruptcy law, your debtor is considered bankrupt if they do not repay their debts within just a reasonable time frame. In Cyprus, it is possible to file for individual bankruptcy of your debtor if the assert exceeds 854 euros.
different dispute resolution approaches like mediation and arbitration could be explored right before resorting to lawful proceedings. you can obtain these debt recovery expert services in Cyprus from our legal professionals.
Anastasios specialises in company regulation matters, insurance coverage regulation and debt collection. In addition he has extensive information in e-money and payment companies legislation.