Karamanolis & Karamanolis LLC is usually a boutique firm specialized in business and Corporate Litigation and Arbitration. The founders with the firm are skilled and passionate experts who have been on the forefront of numerous substantial professional scenarios in the earlier a long time.

Debt collection in Cyprus often starts off inside the extrajudicial stage wherever we ship your debtor customized demand letters and get in touch with them by cell phone. If the debtor disputes the assert or fails to reply, then we will progress by having legal action in session along with you.

We will constantly Make contact with your debtor by sending an First demand letter in addition to a phone phone. in this manner we stay clear of any form of miscommunication. Our solution is usually firm and respectful, so you will always be informed from the status of the case.

Failure to respond to the makes an attempt of Speak to through the creditor, Restoration company, or law firm will often bring about the latter filing for the courtroom order throughout the due quantity is obtained.

In principle, we usually begin the debt collection system While using the extrajudicial stage. at this time, we try out to forestall court docket intervention, as this can be expensive. We'll Speak to your debtor to demand from customers payment.

we have been enthusiastic to announce that our legislation firm has merged with Haviaras & Philippou L.L.C., a dependable regulation firm aiming to provide the clientele of the two firms underneath the name of Haviaras & Philippou L.L.C.

 the worldwide financial disaster could not but have prolonged to Cyprus, much too, and monetary transactions occurring in Cyprus. Liquidity becoming a critical challenge, it can be presently paramount for organizations to collect what they are owed for items and/or expert services provided.

In this manual, we dig further into Every single stage in the debt collection method in Cyprus. We now have thorough answers to provide, from locating amicable methods to initiating personal bankruptcy proceedings. rely on us to get by your aspect by means of everything.

at last, in instances where the debtor is insolvent, insolvency proceedings could be initiated. that is a authorized procedure where the debtor’s belongings are liquidated and dispersed among creditors.

If we don't accumulate, Then you definitely spend no payment. if you choose to get authorized action versus your debtor, then we move to an hourly or preset charge. We do not need any hidden prices and can often consult you just before continuing with any sort of legal motion.

 Creditors frequently ship demand letters to debtors with the help of our Cypriot debt collection legal professionals, outlining the quantity owed, payment phrases, and the implications of non-payment.

through the click here extrajudicial phase, we work based upon a contingency cost. Which means our payment is immediately proportional to the amount we Recuperate. We also aim to Get better the fascination and collection fees from the debtor just as much as possible in order To maximise your income.

you could Adhere to the correspondence together with your debtor in Cyprus by means of our Net portal 24/seven. On top of that, your caseworker will generally Get in touch with you by telephone or in crafting to help keep you educated about the development of one's debt collection in Cyprus.

on the other hand, even In such cases, There's a potential for reaching a settlement by which the debtor will commit to paying the thanks amount of cash.