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Evgenios Erotokritou is the CEO of E.R. Team world wide Consultants and a highly trained law firm specialized in company regulation and business development. Do not hesitate to Speak to us for virtually any legal challenge you might manage.
This permits us to follow a versatile and consumer centered method as A part of our debt collecting strategy.
In Cyprus, debt collection organizations tend to be the pivotal first step in recuperating overdue payments. Their Main goal is to interact in a very dialogue with debtors to stimulate amicable settlement of dues by way of non-judicial signifies. These companies deploy a number of approaches for example correspondence, telephone interaction, and digital outreach to barter repayment plans. it really is at this stage, Preferably ahead of litigious measures develop into required, that creditors can opt to more info require a collection agency.
in the event the creditor is managing many debtors, we use a professional software intended to monitor the Cyprus debt collection course of action. If the creditor so wishes, our specialist program can be linked Using the database of the creditor so which the creditor is all the time educated about the process and at what stage (on the phases outlined underneath) the debt amassing procedure is at.
If you need guidance in the debt collection in Cyprus, we invite you to definitely contact our Cypriot law firm.
in the event the debtor is usually a pure man or woman we would require the consumer to supply us with any facts that they may have over the whereabouts from the debtor so that you can help us Using the debt collection approach. In Cyprus, attorneys can acquire all information associated with debtors plus the start line is the consumer.
the failure of compact enterprises to pay for their invoices can also cause creditors pleasing to debt collection strategies in Cyprus.
However, provided that legal professionals Possess a legitimate rationale to be aware of, all information and facts in the debtor, and particularly all information and facts which happens to be publicly out there (such as If they're acquired the Registrar of firms in Cyprus) can be utilized from the legal professionals.
Despite the emphasis on amicable resolution, situations may perhaps crop up where transitioning to lawful action becomes inescapable. Indications for this transition contain persistent non-communication, habitual breach of repayment agreements, or intentional dodging with the debtor.
The Civil Procedure policies supply for the possibility of using the ecu Payment buy method, that is relevant to instances of undisputed financial claims between get-togethers from European Union nations around the world (excluding Denmark). To obtain a ecu payment buy, you must complete an ordinary software form and submit it to your court docket. The court accepts the payment get in shut session and sends it towards the debtor, and then the debtor has thirty times to file its objections Along with the court docket.
George Y. Yiangou LLC may possibly aid and act on behalf of our clients with discretion, professionalism and sensitivity on any debt collection make any difference in Cyprus.
We provide thorough guidance on creditors’ rights and secured transactions, helping consumers implement their legal rights and defend their pursuits in conditions of debtor default.
Issuing court docket proceedings is the final circumstance scenario, on condition that any other out-of-Court achievable choice is exhausted. But, if a debtor isn't prepared to settle his debt and, thus, adjust to his monetary obligations in the direction of the creditor, then the judicial route of initiating Court proceedings versus him is the sole noticeable Remedy.