Debt Collection
At Andreas Danos Law Firm we provide prompt, efficient, simple and cost-effective solutions to our clients for all debt collection needs against individuals and entities. As experienced Cyprus lawyers, we proactively assist and act on behalf of our clients on debt collection matters in Cyprus.
We pride ourselves on offering honest and realistic advice on how best to proceed with debt collection, and operate with discretion, professionalism and sensitivity.
Throughout the process, the client is kept updated on the status of their owed debts with regular reports, and is offered all the legal and administrative support required to facilitate their situation.
We operate with the approach that debts are best settled with open communication and an understanding of the reasons why they have accrued. We do not subscribe to a ‘heavy-handed’ approach, believing this is actually counter-productive and in many cases delays a settlement further. Our priority is a solution for our client, and one that achieves the objective of recouping your owings in a fast, simple and amiable way.
The debt recovery process in Cyprus usually covers these stages:
- Pre-trial proceedings: including sending official notifications/demand letters to the debtor and fulfilling all the necessary formalities before the eventual trial is commenced.
- Representation during trial process. In situation where the debtor does not willingly return the debt, we are able to provide representation during trial before Cyprus Courts.
- Post-trial proceedings. This includes any possible steps necessary to the enforcement of favorable decision issued by the Cyprus Courts related to the actual recuperation of the debt.
- We act for clients on debt collection and related matters which includes major corporations, international banks, insurers, company liquidators, bankruptcy trustees and directors.
Our debt collection services include:
- Claiming before all court jurisdictions,
- Large scale commercial recoveries,
- Outstanding debt matters, from the initial letters of demand to handling bankruptcy actions against individuals/entities,
- Issuing enforcement proceedings to recover debts,
- Issuing creditors’ statutory demands for the payment of debts,
- Issuing Bankruptcy Notices and subsequent sequestration proceedings and Warrants of Execution,
- Negotiating commercial resolutions to disputes involving debts.
Andreas Danos Law firm also represents clients in proceedings to secure claims as well as in execution proceedings. Our lawyers take all legal actions in -execution proceedings including but not limited to aforementioned debt collection through competent execution offices.
Our legal services relating to execution proceedings are as follows:
- Providing legal opinions and consultations,
- Duly applying to secure claims even before initiation of court proceedings or in course of court proceedings,
- Representing before the courts concerning proceedings to secure claims,
- Duly conducting proceedings referring to enforcement clause,
- Duly conducting proceedings relating to enforcement of a payment order,
- Initiating and supervising of execution proceedings before the execution offices,
- Duly applying for remedies (complaints, appeals, charges),
- Taking any other action available for the execution proceedings
The issue of debt collection can be a disconcerting one due to the delicate and often complex nature of the history surrounding the causes for the accruement of debt, coupled with the desire for debts to be settled smoothly and quickly without escalation.
As such, the expertise of professional and experienced debt collectors is required to ensure that the timely settlement of outstanding arrears from both individuals and companies is achieved without the need to resort to litigation.