The 2-Minute Rule for cyprus law firm
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businesses stay away from unpaid debts as it is inconvenient and places their reputation in danger. It adversely influences funds circulation, holds up essential enterprise procedures, and could weaken relationships with creditors and workers.
Debt collection in Cyprus usually commences inside the extrajudicial phase wherever we send out your debtor tailored demand letters and speak to them by phone. When your debtor disputes the assert or fails to reply, then we can easily continue by getting lawful motion in consultation with you.
considering that we get the job done with attorneys in Cyprus, we can carry out all conversation using your debtor in Cypriot language. This increases the probability of payment even further more.
right before initiating lawful action, you ought to pay attention to your statute of limits. The statute of constraints legislation sets 6 decades for bringing statements with the day the debt arose. it ought to be borne in your mind which the court docket has the appropriate to increase this period to 2 yrs if it considers it acceptable provided the conditions of the case.
In basic principle, we often start out the debt collection method with the extrajudicial stage. At this stage, we try to avoid Court intervention, as This may be costly. We're going to Call your debtor to need payment.
Once a judgment is issued, the law firm will proceed with all of the applicable measures and get any action accessible for the execution proceedings.
frequently, a straightforward dialogue will help make clear misunderstandings and expedite debt resolution. When reaching out, it’s essential to:
Does your organization have to handle a debt collection scenario in Cyprus simply because a Greek read more or Turkish consumer isn't going to shell out your Bill? Our debt collection specialists and attorneys are going to be delighted that will help you. We make certain that your outstanding Bill is compensated immediately.
For any business, past owing accounts and accounts which were defaulted on can harm company passions and income. It is important to maximise your Restoration of all dimensions of business debt.
Our priority is that the debt is gathered in the most time productive way and Along with the the very least costs doable. We for that reason find to prevent litigation anywhere probable. in several situations We're going to accumulate the debt within just just months by simply sending a simple letter of claim.
When a Invoice or invoice continues to be unpaid, the first step is to try collection via extrajudicial or amicable indicates. The extrajudicial period requires all attempts to collect the debt with no involving the courts. In nine away from ten situations, this is enough to Get better your money.
in the extrajudicial section, we perform based upon a contingency charge. Meaning our fee is instantly proportional to the amount we recover. We also purpose to Get well the fascination and collection prices from a debtor just as much as feasible to be able To optimize your gains.
substitute dispute resolution solutions like mediation and arbitration may very well be explored ahead of resorting to lawful proceedings. you can find these debt Restoration companies in Cyprus from our attorneys.
The payment order is then sent in your debtor. The debtor has the opportunity to file an objection on the declare. If that does not happen, we could implement the European Payment Order by seizing property from your debtor.
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