If it is not possible to gather the debt by means of an amicable system, you might have the option to initiate legal proceedings. down below, we make clear what equally the extrajudicial and amicable phases entail in Cyprus.

Practically ninety five% of your situations that we remedy, can be collected without any courtroom intervention. nonetheless, In case your debtor in Cyprus nevertheless will not spend, then we are able to initiate authorized proceedings.

very important to This is often awareness of Cyprus's statute of restrictions which, in accordance with the Limitation of Actions Law (sixty six(I)/2012), generally imposes a 6-year interval for initiating most civil actions, with some kinds of claims having unique durations. this era needs to be viewed along with:

ahead of initiating legal motion, you ought to listen to the statute of limits. The statute of limitations law sets 6 decades for bringing promises with the day the debt arose. It should be borne in your mind which the court docket has the ideal to extend this era to 2 yrs if it considers it realistic presented the situations of the case.

in the long run, it is actually your choice no matter whether you want to move forward with legal motion. If you need to do, our Intercontinental debt collection professional will focus on with you the legal selections accessible and what the authorized system will entail.

This is due to of the following authorized proceedings which may take place which act as a disincentive for them to stall the debt collection procedure more.

following five months of sending reminders and reminders myself, I have chose to outsource my company's unpaid invoice towards the collection company! right after only one desire from them, my customer finally compensated. A lesson for me to outsource unpaid invoices additional rapidly to defaulters in the future.

If pre-legal endeavours are unsuccessful, our proficient lawyers can initiate lawful proceedings from the debtor, which includes getting judgments and imposing court docket orders to recover the debt.

They know specifically which policies and legislation implement, which courtroom we might have to head to, And just how we will correctly gather your assert.

Statute of Limitations: normal limitation duration of six several years for the majority of civil steps, including debt Restoration, extendable less than certain disorders.

Collection firm focuses primarily on international debt collection. Our specialists know precisely how to deal with defaulters. We've got designed an successful debt collection technique and get the job done along with legal professionals, Lawyers, and bailiffs in Cyprus.

should really your debtor fall short to respond, then our professionals and legal professionals get more info can offer you by having an envisioned result or study course of action in just 4 months. If legal proceedings are required, the debt collection approach usually takes for a longer time. The period depends on the authorized proceedings and on whether or not the debtor raises a defence.

In Cyprus, debt recovery necessitates navigating as a result of an intricate legal framework. Adherence to these legislation fosters successful debt Restoration and upholds fair techniques, which happen to be essential for preserving trustworthiness in enterprise dealings.

In Cyprus, amicable debt collection stands out as a cost-helpful and romantic relationship-preserving process for reclaiming overdue payments. This non-litigious technique underscores negotiation and comprehending, aiming to strike a harmony that acknowledges the debtor's situations although safeguarding the creditor's monetary passions.