Toulouras Law Services

Debt Recovery

Any sort of unpaid debt can have huge impact on a company’s cash flow, creating a domino effect that negatively influences a company’s overall economic viability resulting in unpaid employees, creditors and others. The global pandemic faced in the past year, has resulted in many unpaid debt due to payments either not being executed within stipulated schedules or not being paid at all. In many situations, debtors use COVID19 as a scapegoat to avoid payment.

Our team of advocates and associates provide a swift, efficient, and customer-centric approach for all debt collection needs of clients against individuals and entities. Our team has been able to achieve great triumphs in situations where clients believed that the collection of monies owed was impossible.

When faced with a debt-collection request, we review and investigate all the ‘ins & outs’ of the situation and advise clients on the most cost-effective, quickest and easiest procedure to pursue.

Our recent debt-collection activities include:

  • Advising and handling the debt collection of mortgage payments and restructuring of debt on behalf of a financial institution
  • Advising and handling the debt collection of unpaid invoices on behalf of a shipping company
  • Advising and handling the debt collection of unpaid loan payments on behalf of a property management enterprise
  • Advising and handling the debt collection of rent income owed to a global property investment firm
  • Advising and handling the debt collection of mortgage payments and restructuring of debt on behalf of a financial institution

Our areas of work include:

  • Issuance of Letters of Demand
  • Structuring effective methods of debt collection specific to each industry
  • Enforcing effective methods of securing and/or freezing assets
  • Investigating and locating Debtors in Cyprus and abroad
  • Negotiating on behalf of clients
  • Acting as a mediator in commercial resolutions
  • Filing and serving legal proceedings to recover debt
  • Enforcing Court judgments against the debtors
  • Court applications for Debtor’s liquidation or bankruptcy