An Unbiased View of cyprus law firm

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naturally, nobody would like to go bankrupt. Our experience would be that the debtor quickly finds a means to pay back at the time a bankruptcy petition is filed.

the prospect for An effective Restoration is determined by the character within your debt collection situation. We resolve ninety five% of all scenarios on a contingency basis.

But in particular circumstances, the courtroom may perhaps get usually with respect to execution. The time limit for thought of the attractiveness is not recognized by regulation. due to thought of the appeal, the court docket tends to make a decision, which comes into power from The instant of its adoption.

despite the problem, it is best to 1st attain an settlement While using the debtor in advance of taking any additional actions. This is often why, There are 2 strategies through which debt Restoration can occur in Cyprus.

although collection businesses can be employed, It is additionally possible to ask for authorized aid, specially when handling important quantities that must be recovered.

client Protection: Cyprus regulation guards customers in debt collection, guaranteeing truthful and transparent techniques.

A lawsuit will likely be geared up by our staff of legal professionals in Cyprus who will then ask for the client to evaluate it. The Statement of assert will consist of all quantities due in addition to the costs paid from the shopper for that debt collection treatment

This click here process features sending a payment reminder on our behalf. normally, That is adequate to implement payment of your excellent sum.

Finally, in circumstances exactly where the debtor is insolvent, insolvency proceedings is usually initiated. it is a legal procedure where by the debtor’s assets are liquidated and dispersed amongst creditors.

If the debtor isn't responsive to the letter We'll request to negotiate with him to the telephone. quite a few debtors will prefer to settle the debt at this early phase and negotiate a payment system.

We recognise that late payment is a typical problem confronted by enterprises in Cyprus, and that earlier due accounts and defaulted payments might have an important influence on the economic pursuits and gains of a business.

George Y. Yiangou LLC could support and act on behalf of our clients with discretion, professionalism and sensitivity on any debt collection issue in Cyprus.

if you want assistance in chasing a debt, our Cypriot lawyers are at your disposal and will help you in both the amicable and courtroom proceedings.

It’s forbidden for any collector to make use of abusive language, to make general public a list While using the debtors (even though he can offer this facts to other agencies) or to harass the debtor with several calls.

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