Have you seen how difficult it is to recover your money from a Debtor?

[Ogbest]

You will notice that in every business, it is hard and almost impossible to complete a transaction without advancing loans or delivering goods and services on credit. The most painful aspect of it all is this, the smiling face the customers wore when buying on credit, seems to change into a very mean one when it's time for payment. Please how do you handle such customers so as to recover your money without losing the customers too.

 

[Setho]

One of the most difficult things in business is having to sea with people who like to incur debt especially if it is from family members. When selling goods especially to me it is safer that you adopt the pay for the product immediately strategy, there anyone who isn't paying straight away won't get the product or at least should drop his legal documents and sign an undertaken or better still provide collateral.

 

[Damscooguns73]

Concerning how difficult it is for an individual to recover money from debtor. Well, I must say that this aspect is very hard and frustrating, some customers are just privileged to collect goods or products on credit but they misuse those opportunities by not paying as at when due and this kills the business finances. It is better for the person to drop valuables worth the amount of goods he purchases.

 

[Abigael]

This is truly one of the most difficult part of business. People take goods and services on credit then fail to pay. I think you should be careful about who you give things on credit. And you should not give more things on credit to someone before they pay back the other debts.

 

[Peppul]

When it comes to business there is no way you can escape people who incur debt, you will always have them as customers and how do you deal with such customers to get back your money. It's not simple as it sounds because there are some customers that will be owing you debt and yet still be patronizing your business while ignoring the previous debt, most times you will have to fight with some customers before they understand that you are not running your business with papers but with money, and you also need to let them know that without them paying their debt it will be difficult for to to get goods to sell to them. It's easy to give out credit to customers but difficult to get back your payment for the credit.

 

[Henrywrites]

You will notice that in every business, it is hard and almost impossible to complete a transaction without advancing loans or delivering goods and services on credit. The most painful aspect of it all is this, the smiling face the customers wore when buying on credit, seems to change into a very mean one when it's time for payment. Please how do you handle such customers so as to recover your money without losing the customers too.

The best way to handle this kind of issues is to stop selling on credit. Yes, I understand the urge to make sales as soon as you can, but it is of no use to sell on credit unless it is a situation where you are selling to a family member, which to me is like giving for free.

 

[Segat]

One of the most difficult things in business is having to sea with people who like to incur debt especially if it is from family members. When selling goods especially to me it is safer that you adopt the pay for the product immediately strategy, there anyone who isn't paying straight away won't get the product or at least should drop his legal documents and sign an undertaken or better still provide collateral.

You are very much correct, its a bad thing to experience. But dropping a legal documents may not be realistic especially in case of a family customer instead one should roll out rules of engagement and let it be known to all customers that its pay as you go or better push unknown staff to any family customer.

 

[Akinwale701]

You will notice that in every business, it is hard and almost impossible to complete a transaction without advancing loans or delivering goods and services on credit. The most painful aspect of it all is this, the smiling face the customers wore when buying on credit, seems to change into a very mean one when it's time for payment. Please how do you handle such customers so as to recover your money without losing the customers too.

In fact, it is not something easy at all. Even if you lend some money out to your siblings, to retrieve it is a big problem let alone of debtors. If a company doesn't have good rules and regulations concerning debtors and debts management, the company is liable to fold up over a short period of time.

 

[Herzhan]

You will notice that in every business, it is hard and almost impossible to complete a transaction without advancing loans or delivering goods and services on credit. The most painful aspect of it all is this, the smiling face the customers wore when buying on credit, seems to change into a very mean one when it's time for payment. Please how do you handle such customers so as to recover your money without losing the customers too.

1. Be Prepared. The professional debtor is always prepared.
2. Be Professional. Having a professional demeanor demands respect.
3. Take Control of the Situation. Don't make the debtor go on the defensive- that won't get you anywhere.
4. Get a Commitment. Do not end the conversation without summarizing the results.

 

[Shigobad2020]

Normally customer comes with a pity face to buy on credit and you don't have choice than to pity them and sell do them on credit but to pay will be the problem, cos you will be the one running after them , the only thing you can do is to get your lawyer involved.

 

[Shakeel5676]

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[Sheyemanu]

If I am to answer this honestly, Well, I must say that this aspect is very hard and frustrating, some customers are just privileged to collect goods or products on credit but they misuse those opportunities by not paying as at when due and this kills the business finances. It is better for the person to drop valuables worth the amount of goods he purchases

 

[Adventurer]

You will notice that in every business, it is hard and almost impossible to complete a transaction without advancing loans or delivering goods and services on credit. The most painful aspect of it all is this, the smiling face the customers wore when buying on credit, seems to change into a very mean one when it's time for payment. Please how do you handle such customers so as to recover your money without losing the customers too.

Right at the smiling face turns to a mean one and even ignore your phone calls when it's time to pay up. I've adopted a no credit policy in my business ever since we were issued dud cheques and all my customers understand, I'll rather have stock in my store than in the hands of a debtor.

 

[Snazzy001]

This debtor even threatened to fight me if i eventually ask for my money again, can you imagine this?
I wish people could pay debt with thesame energy and smiling face they used when they asked for it.

 

[Sparrow 001]

My dear it's never easy o.. It's even like third world War... On top your own sweat and money you will still be pleading for it.... To make matters worst some will start avoiding you... The only solution is to be following them in a subtle way and hope they have change of heart

 

[Kinglegend01]

It's the simple truth it is very easy to borrow money from someone but very difficult to pay back that person the money you owe. This aspect is very hard and frustrating, some customers are just privileged to collect goods or products on credit but they misuse those opportunities by not paying as at when due and this kills the business finances.

 

[Ogbest]

This debtor even threatened to fight me if i eventually ask for my money again, can you imagine this?
I wish people could pay debt with thesame energy and smiling face they used when they asked for it.

NAWA ooo, people won't stop to amaze me, on top your own money? Humans are really difficult to understand, that was how they broke a friend of mine's head. Because he went to collect his money from the person he helped.

 

[Kelly5]

You will notice that in every business, it is hard and almost impossible to complete a transaction without advancing loans or delivering goods and services on credit. The most painful aspect of it all is this, the smiling face the customers wore when buying on credit, seems to change into a very mean one when it's time for payment. Please how do you handle such customers so as to recover your money without losing the customers too.

It may be very difficult collecting your money you lent someone. You can imagine why those money borrowing app agents embarrass abd harass people that refuse to pay backntheir loans. They do every unimaginable things to their money back cruelly

 

[Donkiz]

There are two types of debtors, those that are willing to pay but doesn't have the money to do so, and those that have the money to pay but are not willing to do so.

If the person is willing to pay, I will arrange for him to start paying back in installments until the debt is cleared. If the person is not willing to pay, I will get a court order to force to pay.

 

[Ogbest]

It may be very difficult collecting your money you lent someone. You can imagine why those money borrowing app agents embarrass abd harass people that refuse to pay backntheir loans. They do every unimaginable things to their money back cruelly

This is one of the main reasons it is very difficult to see whom to borrow money from when you are in need. Many do consider how they will collect their money back from the Debtor.