Garnishment Orders: Available to creditors to enforce debts by garnishing wages or other incomes on the debtor.

If your debtor in Cyprus refuses to pay for through the extrajudicial period, immediately after discussion with you, we could drop by court docket in Cyprus .

We work in conjunction with our consumers and prudently assess the dangers along with the requirements of every person circumstance aiming to build and communicate a transparent system for quick and economical collection of the debts.

prior to initiating lawful motion, it is best to concentrate into the statute of limitations. The statute of restrictions law sets 6 years for bringing statements from the date the debt arose. It should be borne in your mind which the court docket has the best to extend this period to 2 yrs if it considers it acceptable supplied the conditions of the case.

If this stage won't provide the anticipated results or following an initial Examination it gets clear that it's website not relevant, you must commence to Restoration throughout the procedures offered for by law.

Penalties adhere to Cyprus's Late Payment Directive, in which creditors can cost statutory curiosity and a set payment sum of €40 for debt collection prices.

We get the job done right for shoppers, but we also assist intermediaries like legislation firms or accounting businesses.

With our in-house debt collection Restoration approaches, we can easily deliver our customers with exact and valuable help or information. We divide debt collection into two big levels: extrajudicial debt collection and judicial debt collection.

inside the hugely not likely celebration that we do not obtain something, you won't really need to fork out us any costs. you will find an entire overview of our expenses on our service fees page.

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However, in some cases, it's highly recommended to seek authorized aid from a lawyer, especially when the stakes are higher. that may be why Collection corporation collaborates with best legal professionals in Cyprus.

At Chambers & Co, our committed and experienced legal professionals just take satisfaction in furnishing extensive debt collection products and services in Cyprus. We function tirelessly that can help purchasers Get better their remarkable debts, safeguard their interests, and ensure a successful resolution for their debt Restoration wants. Call us nowadays To find out more regarding how we will assist you with your debt collection needs.

For European purchase for Payment proceedings, the creditor ordinarily completes a typical form and submits this into the Court. The Court then difficulties a European Order for Payment. The debtor then has 30 times to state whether they object for the assert. If there is absolutely no response in the 30-day time period, you may check with the courtroom to help make the order for payment remaining (termed a “declaration of enforceability”).

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