If a debtor is insolvent, creditors could initiate individual bankruptcy proceedings, probably leading to the liquidation of property to fulfill debts. 

In some cases, recovering your payment by deploying comprehensive actions might not be the most fitted system of motion. We realize that with certain clients, it is important on your Group to take care of a lengthy-term partnership.

Debt collection organizations, such as Debitura, Participate in a crucial purpose in facilitating amicable debt Restoration in Cyprus. By leveraging their knowledge and methods, these organizations initiate the recovery system through adept identification of debts and debtor circumstances, following up with strategic conversation attempts.

Garnishee proceedings These proceedings aim at discovering out no matter whether You can find income within a bank account (or whether there are amounts because of the debtor by 3rd events) and requesting that All those amount are compensated on to the Creditor to extinguish the debt.

This letter features a paragraph that in the event that the debtor will not react throughout the deadline check here then authorized proceedings will likely be initiated by our staff of Cyprus lawyers.

at the time a judgment is issued, the law firm will commence with many of the suitable actions and acquire any motion available for the execution proceedings.

submitting a lawsuit against the debtor is the final step in our Cyprus debt collection process before initiating execution on the judgement to the quantities owing.

Cyprus is a celebration to Global treaties facilitating the recognition and enforcement of overseas judgments for cross-border debt collection. 

It is fully probable to rent a Cypriot debt collection company for debt collection over the island. The hard aspect is that you will quickly encounter a significant language barrier If you don't converse Greek or Turkish on your own.

post your Make contact with information and one of our debt collection specialists will Get in touch with you promptly!

Debt collections can not only be enforced in Cyprus but judgments may very well be executed abroad in addition. Put simply Though a debt might be produced in Cyprus however the debtor is afterward moving out of the country, we may perhaps progress with filing of the court motion in Cyprus, provide the defendant overseas, then provide the judgment issued in Cyprus and thereafter have it executed at the debtors country or state of residence.

we've been generally dedicated to providing a top quality of shopper treatment and authorized services across all our exercise parts.

we offer thorough tips on creditors’ rights and secured transactions, serving to purchasers implement their legal rights and protect their passions in circumstances of debtor default.

The payment purchase is then sent on your debtor. The debtor has the chance to file an objection to the declare. If that does not occur, we are able to enforce the ecu Payment get by seizing belongings from your debtor.