Debt collection can require for 2 phases, the 1st a single staying "soft collection" and that is the from courtroom try because of the firm to gather the customer's debt with a "no collection no fee" here basis and the second stage which entails courtroom proceedings plus the usage by the firm of all implies offered by the regulation for that recovery of the debt.

The chance for a successful recovery depends upon the nature of one's debt collection situation. We address ninety five% of all circumstances over a contingency basis.

treatment for Debt Collection in Cyprus In Cyprus, debt collection in relation to commercial transactions supplies the creditor with automatic entitlements. This is predicated on Directive 2011/seven/EU on combating late payment in commercial transactions which presents for the following:

Our Cyprus legal professionals are dedicated to excellence in all areas of services and our provider benchmarks implement in all circumstances.

The period of authorized proceedings in Cyprus will depend on the complexity of one's situation and if your debtor raises a defence.

After the remaining court has built the choice and In case the debtor refuses or fails to comply with the debt payment, our Cypriot lawyers can use the next techniques to Recuperate the debt:

After the judgment is issued, the techniques of enforcement may perhaps commence. The debtor’s assets could be item of your enforcement When the court docket decides so.

The collection businesses and law firms in Cyprus might also assist the creditors during the trials versus the debtors.

need to we believe the debtor has no fiscal believability and wouldn't shell out even with a court docket judgment in our arms, we might then suggest the shopper It's not necessarily worthy of pursuing this subject in Court. This is, nevertheless, hardly ever the case given that the debt are going to be gathered correctly in virtually all situations.

When dealing with debt collection in Cyprus, you are able to count on Bierens. when our professionals find the solution you will need, you could resume company as typical. We may help you with the next predicaments:

This legal framework in Cyprus makes certain that debt collection techniques are the two powerful for creditors and truthful to debtors. By adhering to those polices, creditors can navigate the debt recovery system with self esteem, realizing They're supported by a transparent, structured legal program created to aid successful results for their recovery attempts.

000 companies throughout the world, such as Cyprus. Learn the way our Worldwide experts and lawyers have helped other firms in a similar circumstance and come across the solution for debt collection in Cyprus.

we offer comprehensive guidance on creditors’ rights and secured transactions, helping customers implement their legal rights and safeguard their interests in situations of debtor default.

Cyprus Civil method regulation: Governs the submitting of lawsuits, support of writs, as well as judicial system for debt collection, creating the groundwork for authorized actions against debtors.