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Discover how We've got assisted other consumers with Intercontinental collections which include debt collection in Cyprus
method for Debt Collection in Cyprus In Cyprus, debt collection in relation to business transactions delivers the creditor with automated entitlements. This relies on Directive 2011/7/EU on combating late payment in commercial transactions which delivers for the subsequent:
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In case the amicable approach fails, escalate the make a difference via lawful proceedings to obtain a court docket judgment, essential for debt enforcement.
it can be crucial to mention, at this time, that in the course of the court docket click here proceedings, there is always a possibility of settlement, with no need to have to succeed in the final court docket phase, specifically the Listening to of the case.
beginning a debt collection in Cyprus is fast and simple. you could upload your assert by way of our on the net transfer variety. All you need to do is enter some facts in your organisation, your debtor’s firm and pertinent documentation or invoices. you'll be able to then upload your circumstance via a safe network right here.
constraints on Enforcement techniques: Debt collection solutions for example asset seizure or garnishee orders require a court docket judgment, offering debtors judicial scrutiny of collection endeavours.
It's not unheard of for these to also refer the debts to collection agencies or attorneys in Cyprus, as they wish to Recuperate their dollars as quickly as possible.
If we do not obtain, Then you definitely fork out no cost. If you decide to get lawful action against your debtor, then we move to an hourly or fixed cost. We would not have any hidden charges and may usually seek the advice of you just before proceeding with any kind of legal action.
during the remarkably not likely party that we don't gather anything, you won't really have to pay back us any expenses. you will find a full overview of our service fees on our expenses website page.
George Y. Yiangou LLC may perhaps help and act on behalf of our consumers with discretion, professionalism and sensitivity on any debt collection matter in Cyprus.
occasionally we take into account it suitable to file an interim buy against the debtor’s immovable assets or freeze his accounts. During the court docket proceedings there is usually a chance of settlement with no ought to Select a hearing.
being a creditor, we nonetheless have a solid leverage Instrument at our disposal In the event your debtor definitely refuses to pay for: a personal bankruptcy petition. In Cyprus it can be done to file for bankruptcy of the debtor if they do not shell out.