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Debt collection in Cyprus often starts within the extrajudicial period exactly where we send your debtor tailored demand from customers letters and contact them by cell phone. Should your debtor disputes the declare or fails to respond, then we can easily continue by getting authorized motion in consultation along with you.
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Chambers & Co has extensive expertise in controlling cross-border debt collection scenarios. We collaborate with Global companions to make sure a easy and efficient Restoration procedure for our shoppers.
We also understand that the Coronavirus could have developed a back log of debts, several of which are here real scenarios of inability to pay, even though Another situations relate to strategic behaviour from the Debtors not to pay for their debts.
Cypriot debt collections is usually effectuated not just Within the state, but abroad, also. as a result, Despite the fact that a debt was built in Cyprus, In the event the debtor moved out on the country in a later day, a courtroom motion could be submitted and after that the debt repayment is often enforced from the debtor’s country of home.
software to look at the monetary circumstance of your Debtor Applying on the courtroom and requesting the evaluation with the debtor’s economical scenario and demanding the debtor to pay for the creditor an installment each month.
It isn't normally doable to rely upon the Cypriot authorized program. Here is the scenario Whenever your debtor is found in Northern Cyprus.
Debtors commonly have a letter of declare coming from a lawyer extra very seriously than any letters from the creditors themselves. several debtors want to stay away from authorized proceedings in opposition to them and will be willing to settle out of court docket their economical obligations.
The period of lawful proceedings in Cyprus will depend on the complexity within your scenario and ON no matter if your debtor raises a defence.
The amicable route presents a lot of pros for all parties concerned. Creditors circumvent the hefty costs affiliated with lawful proceedings and at the same time protect a must have business relationships, because of the method’s cordial character.
A debt collection company can deal with recovering your hard earned money. Our aim is to make sure that our clientele acquire the things they are entitled to as quickly as feasible.
Cyprus’ economy is built of assorted styles of businesses In accordance with their size, but in addition of different types of consumers. This is often why when addressing debt Restoration, the initial facet to take into consideration is the type of shopper which includes did not meet up with his/her fiscal obligations and after that make a decision on the strategy to Get better the remarkable amount of cash.
Debt collection might be a tough and time-consuming approach for individuals and businesses alike. At Chambers & Co, our seasoned attorneys specialise in all facets of debt collection in Cyprus, guaranteeing the prompt Restoration of exceptional debts though retaining professionalism and integrity.