With greater than 40 years encounter in debt collection, Danos & Associates provides debt collection products and services to an expanding community of clientele from Cyprus and around the world. Our staff manages the debt collection approach for local and overseas persons, small and huge corporations, financial institutions and main Intercontinental law firms.
These include their own set of elaborate challenges. such as, a lot of the questions that are important to look at are:
In case all initiatives to conclude the debt collection in Cyprus by means of negotiation don't deliver the outcome we will then commence with the subsequent step which will be to ship a letter of demand from customers on behalf of our clients.
right before initiating lawful action, you must concentrate to the statute of limits. The statute of limits legislation sets six yrs for bringing promises in the day the debt arose. It should be borne in mind the court has the appropriate to increase this period to 2 yrs if it considers it acceptable given the situations of the situation.
The amicable route features numerous benefits for all events involved. Creditors circumvent the significant expenditures affiliated with authorized proceedings and at the same time protect invaluable organization associations, thanks to the method’s cordial mother nature.
Also, unique limitation durations implement to sure issues. For claims linked to contract function, there is a limitation period of 6 years.
once the judgment is issued, the treatments of enforcement might start off. The debtor’s property may be object with the enforcement In case the courtroom decides so.
Our debt collection technique aims just at combating strategic responses of debtors in not paying out what they owe although in circumstances in which the debtor is genuinely struggling to pay out, we provide a flexible strategy based upon the wishes in the client.
the trouble of late or even non payment has attained Cyprus not simply on a neighborhood company amount but also to the transactions of foreign nationals website by Cyprus companies.
The period of authorized proceedings in Cyprus depends upon the complexity of the scenario and ON no matter if your debtor raises a defence.
Alternative dispute resolution mechanisms, for example mediation and arbitration, are obtainable in Cyprus. These is usually a quicker and fewer formal method to solve disputes and Get well unpaid debts.
After the ultimate courtroom judgment is delivered and In case the debtor retains refusing and/or failing and/or denying to comply with his financial obligations and the Court judgment towards him, we will move forward appropriately and use the following strategies as a way to execute the courtroom judgment against him:
Antonis Paschalides & Co LLC has usually represented the most important banking institutions of Cyprus in collection in their nearby debts and it has recently been engaged by quite a few foreign purchasers wishing to collect from Cyprus based mostly people or organizations.
As presently said, in the event our debt collection procedure as a result of tender conversation and negotiation fails, We're going to continue with sending a letter of need into the debtor. This continues to be part of our from court strategy in bringing the procedure of debt collection in Cyprus to a detailed.