individual bankruptcy These goal at causing the debtor to be bankrupt. This stage has substantial negative consequences about the debtor such as the prohibition to individual checks or turn out to be director in businesses.
If the amount owed just isn't paid, we send a person final reminder. Within this letter, we inform your debtor that They are going to be taken to court if payment isn't received by the specified day.
It is often troublesome when shoppers or other debtors never shell out you. It becomes even more difficult Whenever your debtors are located overseas.
This process includes intensive interaction While using the debtor in an effort to utilize consistent pressure. the principle process is to determine contact with critical conclusion makers to obtain fast debt repayment.
submitting a Defence just in case the debtor files an look, then He'll also have to file a defence towards the declare.
Whilst Cyprus companies do offer considerable protection as to one's anonymity it is important for affected get-togethers to are aware that Cyprus legislation presents protection to creditors and a person cannot just "disguise" guiding a Cyprus enterprise.
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the failure of tiny enterprises to pay their invoices may also bring on creditors pleasing to debt collection procedures in Cyprus.
inside the framework of the process, it can be done to judicially terminate fraudulent/fictitious transactions from the debtor directed at withdrawing their belongings in order to stay clear of debt repayment with the forced sale of such belongings.
on the other hand, You can also find situation where by a problem can turn out in a very courtroom of legislation. In cases like this, the service of the Cypriot law firm turns into mandatory.
As a number one cross-border debt collection regulation firm, We now have access to worldwide business databases and credit history studies. in just these databases, we are able to look at your debtor’s credit history status, establish why the invoice was not paid and refine our system accordingly.
000 companies throughout the world, like Cyprus. Learn how our Worldwide experts and attorneys have assisted other businesses in an identical condition and discover the solution for debt collection in Cyprus.
This is dependent upon Each individual circumstance and debtor. We generally begin from the amicable debt collection stage. this method takes a relatively brief time mainly because we provide your debtor with minimal time to complete the payment. When beginning your here circumstance, your situation worker will supply an estimate with the length of your respective case.
regardless of whether they can work with collection companies, Additionally it is typical to make use of the companies of lawyers in Cyprus who can offer tailor-made assist in accordance Along with the provisions of the Civil Code.