Despite the emphasis on amicable resolution, cases may occur where transitioning to authorized motion becomes inevitable. Indications for this changeover include things like persistent non-conversation, habitual breach of repayment agreements, or intentional dodging via the debtor.

Debt collection in Cyprus always begins within the extrajudicial section where by we send your debtor custom-made demand letters and speak to them by cellular phone. In the event your debtor disputes the claim or fails to reply, then we could carry on by using authorized motion in consultation with you.

There's a closing date within which creditors can lawfully go after debt collection in Cyprus, ordinarily 6 yrs in the day of default. 

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In Cyprus, amicable debt collection stands out as a cost-successful and marriage-preserving process for reclaiming overdue payments. This non-litigious strategy underscores negotiation and knowledge, aiming to strike a stability that acknowledges more info the debtor's disorders when safeguarding the creditor's economical interests.

we have been excited to announce that our regulation firm has merged with Haviaras & Philippou L.L.C., a highly regarded regulation firm aiming to serve the clients of both of those firms under the title of Haviaras & Philippou L.L.C.

Often, a simple dialogue may help clarify misunderstandings and expedite debt resolution. When reaching out, it’s essential to:

no matter whether you end up picking to consult us in possibly the extrajudicial or judicial debt collection levels in Cyprus or abroad, our Workplace is Completely ready to assist you.

The authorized process in Cyprus is based over the typical law system, Along with the Supreme court docket being the best court of appeal. The court docket system for debt collection could be lengthy and costly, but it's a vital stage for creditors with unpaid, uncontested promises.

Statute of Limitations: common limitation duration of 6 many years for the majority of civil actions, together with debt recovery, extendable underneath sure circumstances.

We have been working with Antonis Paschalides & Co LLC regulation firm for more than 40 several years now on many various initiatives (reviewing of contracts, corporate matters, work law difficulties, illustration before the ecu court docket of Justice around the Cyprus bail in conditions just to name several).

A debt collection agency can deal with recovering your money. Our goal is to make certain that our shoppers obtain the things they are entitled to as swiftly as you possibly can.

Cypriot debt collection routines are controlled by shopper protection regulations, prohibiting abusive or harassing techniques inside the collection system. 

Anastasios specialises in company legislation matters, insurance coverage legislation and debt collection. Furthermore he has wide understanding in e-funds and payment providers laws.