Our law firm offers debt collection services. Admittedly, this is a difficult area given the problems that we have in Cyprus with the execution of court judgments.
We usually work on a success fee up to the point before filing a law suit.
Debt collection services are offered in relation to companies and persons that reside in Cyprus.
The first step we take in a debt collection case is to send a letter which informs the debtor that we are Debt Collectors and that we have taken over management of the client’s account and that they should make full payment by return of post.
If they do not respond a Final Demand giving notice of legal action is sent stating that legal action will follow which could lead to bankruptcy or the winding up of the debtor company.
If there is still no response, polite but firm phone calls are made in a final attempt to resolve the debt. If payment or an agreed payment schedule is not agreed at this stage we can usually follow through to legal action and enforcement.
For more on debt collection and the procedure click here.