EFSTATHIOS C. EFSTATHIOU LLC
Efstathios C. Efstathiou LLC is a leading multi-disciplinary set with a proud reputation of being professional, approachable and modern. The Firm is distinguished for its entrepreneurial and pragmatic approach, international perspective and unparalleled legal practice.
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We provide professional debt recovery services in Cyprus. We are a single port of call for advice and assistance on all aspects of debt collection matters in Cyprus from pre action recovery of debts to complex enforcement trials.
Our client’s needs as well as the individual requirements of the case, determine the tools selected to recover the debt and the employment of every available legal method.
We provide services in Arbitration, Amicable recovery of debts, Judicial recovery, comprehensive supervision of enforcement of overdue payments, Enforcement of Foreign Judgment in Greece, Bill of Exchange litigation, Bounced Cheques e.t.c.
The first thing we do is contact the debtor, inform him that we have been commissioned to collect the debt and set a final deadline. In certain cases, the announcement that a Cyprus lawyer has been commissioned to collect the debt improves payment behavior.
Depending on the individual case, we then decide whether a letter from the bailiff will follow or whether the next steps should be taken immediately after the deadline set.If an enforceable title is not yet available, we check whether the requirements for a Cyprus or a European order for payment are met and decide which way is better in a specific case in order to obtain a quick title. If legal proceedings cannot be avoided, we generally advise you to do so, if there is competence, at your seat.
The enforcement of judgments of European member states can then be carried out in accordance with the new version of EU Regulation No 1215/2012. This enables the creditor to carry out enforcement in other European countries without having to carry out a complex and costly recognition or enforceability procedure. For this purpose, the issuing of the certificate pursuant to Article 53 of EU Regulation No 1215/2012 (form) must be requested for the initial enforcement order.
Enforcement is then carried out in Cyprus according to the procedure for enforcing Cyprus e orders.
Efstathios C. Efstathiou believes in offering our clients transparency in our service. Upon request we can provide our pricing model for recovering debts which is undisputed.
Court Claims: Costs apply where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed.If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary, which could be on a fixed fee (such as if a one-off letter is required), or an hourly rate if more extensive work is needed
Stages: The fees detailed in this document cover all of the work inrelation to the stages of a claim, detailed below:
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a letter before action
- Receiving payment and sending onto you, or if the debt is notpaid, drafting and issuing a claim
- Where no Acknowledgment of Service or Defence is received,applying to the court to enter Judgement in default
- When Judgement in default in received, write to the otherside to request payment
- If payment is not received within 14 or 21 days, we will provideyou with advice on next steps and likely costs
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Top-Rated Debt Collection Agency in Cyprus
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