We also realize that the Coronavirus might have developed a back log of debts, some of which happen to be authentic instances of incapability to pay, even though Several other scenarios relate to strategic conduct via the Debtors not to pay for their debts.
amassing debts in Cyprus encompasses reminder issuance, repayment negotiations, authorized motion initiation and even reporting defaulters to credit score agencies.
would you need to know more details on our debt collection expert services in Cyprus? Get in touch with us for the free of charge session.
repercussions of non-payment of B2B debts in Cyprus could include harm to the debtor's credit history rating, legal action bringing about asset seizures, or potential constraints on conducting organization things to do.
If a loading buy about the immovable belongings with the debtor has been recorded Using the Land Registry, a sale of it may be ordered if it’s necessary to cover the debtor’s dues.
considering that we work with attorneys in Cyprus, we will carry out all communication along with your debtor in Cypriot language. This increases the chances of payment even additional.
After the ultimate court docket has produced the decision and When the debtor refuses or fails to adjust to the debt payment, our Cypriot lawyers can use the following techniques to here Recuperate the debt:
once the judgment is issued, the methods of enforcement could begin. The debtor’s property could possibly be item from the enforcement In the event the Court decides so.
greater and a lot more complicated cases needs to be introduced to the District Courts based on the worth in the claim and geographical jurisdiction criteria.
Our specialist group has unparalleled several years of experience within the fund business, and therefore are at the forefront of the event on the sector in Cyprus.
Do you've got a debt collection case in Cyprus? you should leave your Speak to facts and among our professionals can get in touch along with you right away to debate your situation.
expenses and bills: Creditors can Recuperate debt total, €40 as recovery prices, and authorized costs from prosperous lawsuits.
Based on Cypriot law, It's not necessarily necessary to hire an attorney to file a lawsuit versus your debtor, neither is it necessary to have a lawyer represent you in the authorized proceedings.
nonetheless, some providers in Cyprus can still shut down with substantial unpaid debts, leaving their creditors with losses.