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ARTICLE · 11 MAY 2023

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Debt Collection In Cyprus – Frequently Asked Questions

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The first step in the debt collection process is to send a formal demand letter to the debtor, requesting payment of the outstanding debt. If the debtor does not respond or does not pay...

European UnionLitigation, Mediation & Arbitration
Angelos Paphitis
Angelos Paphitis
Maria Constantinou
Maria Constantinou
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In Cyprus, debt collection is governed by the Cyprus Civil Procedure Law and the debt collection practices. Debt collection can be a complex and time-consuming process, but there are several options available for creditors to recover outstanding debts.

The first step in the debt collection process is to send a formal demand letter to the debtor, requesting payment of the outstanding debt. If the debtor does not respond or does not pay, the creditor may need to take legal action.

Legal action can be taken by filing a lawsuit against the debtor and obtaining a judgement against the debtor. Once a judgement is obtained, the creditor can use various means of execution which will be described below in order to levy execution of the judgement.

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