‘We partnered with Sterling regarding a recruitment placement fee due to us from an overseas client based in the U.S. Sterling took an understanding and comprehensive approach to this situation. Following their analysis they informed us they had identified assets in the UK (a subsidiary) and had proposed legal proceedings in the English courts which would then be followed with enforcement against the UK assets. The placement was unfortunately disputed although our strict protocol had been followed, however following negotiations and the debt recovery effort led by Sterling, an offer was made to pay 75% of the debt, which we accepted as we wished to be fair and just. This was a significant fee for us and as a boutique and well respected business in the sector this fast result ensured immediate payment which in turn ensured our cash flow. We avoided delays, uncertainty and any upfront legal costs. We would certainly work with them again if this rare and unfortunate situation should arise into the future.’
Commission only Cypriot debt collection
Sterling Debt Recovery provides international business debt collection and debt recovery services. Our customers include small businesses and global corporates from across the world. We are able to collect one-off debts with a minimum value of 1000 euro and upwards, or regular and higher volumes of debts where values are lower.
Debt litigation in Cyprus
Where legal expertise is necessary, our UK lawyer working in our Krakow office has considerable experience in collecting cross-border debt. Even if it proves necessary to engage our lawyer to assist in recovery, he will still attempt to achieve payment without court proceedings. If litigation is required, then we will analyse the case and provide advice as to whether the procedure is likely to be successful and cost effective. We will also advise on which procedure is more appropriate, including options for enforcement should this be necessary. Various options for litigation are possible depending on the terms of business and status of the debt. In some cases the terms will stipulate that the jurisdiction is in our client’s country, in which case it may be appropriate to issue a claim there before applying to the Cypriot court to register the judgement. Often the European Order for Payment procedure may be more efficient, and in others cases it may be necessary to take action in Cyprus.
Where local representation, expertise, or enforcement is necessary in Cyprus, we are able to call on an established network of trusted partners there to assist in collection. The entire process is managed by our debt collection team so that our client has a single point of contact throughout the process.
No-win, no-fee commercial debt recovery in Cyprus
Sterling are able to collect Cypriot debts on a commission only basis with no up-front fees. Charges only apply in cases where legal proceedings are required or third party costs apply. Our standard commission rate for collecting debts in Cyprus is 20% of the gross value recovered, although lower rates are available for high value or large volumes of debt. Higher rates apply for debts over 24 months’ old or where another agency, lawyer or legal action has already been unsuccessful. Contact us to discuss your debt.
- A single point of contact for all international debt collection.
- Established debt collection agency with 10 years’ history of collecting overseas commercial debts.
- An in-office lawyer with expertise in cross-border debt recovery.
- Network of trusted partners worldwide for enforcement, process service, legal advice and litigation where necessary.
- Debts paid direct to our clients or to a separate client bank account in Euro’s, GBP, USD or other currencies as required.
- Sterling are an international member of the Credit Services Association, complying with the CSA’s code of conduct.
Outsourced Collections Service for Cypriot Invoices
Where a company has regular business with customers in Cyprus it can be difficult to maintain prompt payment. Sterling’s multilingual outsourced credit control service can be used to achieve payment quickly whilst retaining and improving customer relationships. The service can work entirely under our client’s brand, so the outsource is completely invisible to the end-customer, enhancing the business image, improving cash flow and improving relationships.
To find out more about Sterling’s outsourced credit control service Click Here!
Sterling has legal and enforcement partners in the following countries: Andorra, Armenia, Australia, Austria, Belgium, Bosnia-Herzegovina, Brazil, Canada, Croatia, Cyprus, Czech Republic, Denmark, England, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, The Netherlands, Montenegro, Poland, Portugal, Romania, Russia, Scotland, Serbia, Slovakia, Slovenia, Spain, Switzerland, Turkey, USA.