Debt Collection In Cyprus

INTRODUCTION

The global economic crisis could not but have extended to Cyprus, too, and financial transactions taking place in Cyprus. Liquidity being a severe problem, it is nowadays paramount for businesses to collect what they are owed for goods and/or services provided.

Our priority is that the debt is collected in the most time efficient way and with the least costs possible. We therefore seek to avoid litigation wherever possible. In many cases, we will collect the debt within few weeks by merely sending a letter of demand, through which we claim the amount owed to our client. Debtors generally take seriously a letter of claim coming from a lawyer, rather than any letters from the creditors, themselves. Without any doubt, many debtors want to avoid legal proceedings against them and will be willing to settle their financial obligations out of Court.