Our preference is to gather your claim devoid of court intervention. consequently, we constantly begin a collection within the amicable section. If this has no influence, then we continue with courtroom motion. even so, we always achieve this in session with you to start with.
Evgenios Erotokritou could be the CEO of E.R. workforce world Consultants and a seasoned lawyer specialized in corporate regulation and business development. don't hesitate to Make contact with us for virtually any lawful challenge chances are you'll deal with.
It is often troublesome when consumers or other debtors usually do click here not pay out you. It results in being even more difficult Whenever your debtors are located abroad.
Before initiating authorized action, you ought to listen towards the statute of restrictions. The statute of constraints legislation sets 6 several years for bringing promises with the date the debt arose. it ought to be borne in mind that the courtroom has the correct to extend this period to two decades if it considers it realistic presented the situations of the situation.
nevertheless, in some instances, it is actually a good idea to hunt authorized aid from a lawyer, particularly when the stakes are high. which is why Collection firm collaborates with top lawyers in Cyprus.
Hearing immediately after a number of other procedural measures, a date is ready for any Listening to in which equally parties existing their situation by means of their witnesses.
It should be noted which the court docket can enforce the freezing from the debtor’s checking account as well as to difficulty an order versus any immovable house the debtor has.
step one while in the debt collection process in Cyprus is definitely the out-of-court section. This is where the creditor attempts to collect the debt via negotiation and communication While using the debtor.
In instances of insolvency, the appointment of insolvency practitioners could possibly be required to oversee the distribution of assets between creditors.
We will often present you with information and facts beforehand regarding the likelihood of results as part of your debt Restoration matter. We may even tell you beforehand about the potential expenditures, and we only continue with the authorization.
We recognise that late payment is a standard concern confronted by organizations in Cyprus, and that past because of accounts and defaulted payments can have a significant effect on the economical passions and income of a business.
In the event the debtor refuses to pay for even once the issuance of the Court judgment in opposition to him, we could use the following processes so as to execute the Court judgment:
When addressing debt collection in Cyprus, you can rely on Bierens. when our industry experts discover the solution you will need, you may resume business as common. We will let you with the next predicaments:
The judgment expenditures are frequently paid out from the defendant however it’s not a general rule, the judge could dispose that both functions ought to spend their portion.