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

[Setho]

It is actually a very bad experience that people go through just to collect their own money. The sad thing is that the law is designed to protect the debtors more.

 

[GIFTMICHAEL]

It is very difficult to recover your money from a debtor especially when you did not have collateral to that particular loan that you gave to a debitor

Sure, if the debtor never dropped a collateral before taking the loan it will hard to recover it from him or her. In order to recover it, it will cost you spending money which you don't want, by inviting the police.

 

[Josephjossy]

That is what business is all about. You need to be able to recover from customers in a Good way. Don't be to harsh to customers. But am not saying you should not recover your money but do it in a good way

 

[Richard92]

Things have become so tough that no one is actually willing to let go of the little they have all in the name of borrowing. And in most cases does you borrowed can be very difficult when it comes to paying back. And some of these people might actually borrow you what they would make use of later on, expecting you would pay back on time

It is very difficult for an individual to recover his own money from 880 especially if he did not collect collateral before giving that individual loan.

 

[Senator]

I have had a first hand experience on this and the feeling is not a good one. You will have to keep on disturbing else persons for your money untill it begins to make you feel embarrassed

 

[eLdavis]

It is very difficult for an individual to recover his own money from 880 especially if he did not collect collateral before giving that individual loan.

I believe this is exactly why most people go all they way in bringing in a lawyer to witness and also sign a legal agreement before they give out a loan. This would give them the right to take any form of action if their money is not paid back to them.

 

[Blessingedidiong]

Debt collection is the one of the difficult things to do in business. There are some customers that will always offset their debt within the time frame they give and there are some that will not even consider they have some debts to pay to you and still end up leaving you to patronize another person. In cases like this,you do not give such a customer a breathing space. Try to always call such customer to remind the person of the debt. You can go as far as threatening the customer you will involve the police if the debt is not settled in due time.

 

[Setho]

It is actually a very sad thing to be honest. That is why I always encourage business owners not to be so quick to lens out their products in credit or at least make automatic payments.

 

[Kelly5]

There are some who will pupposely and intentionally just won't want to pay you back in the hopes that you never ask it if them again. Can you imagine that?

 

[Alexandoy]

It is actually a very bad experience that people go through just to collect their own money. The sad thing is that the law is designed to protect the debtors more.

You have no protection if you are a private lender because you are not registered with the government. The usual way of getting back payments for a debt is to threaten the borrower with something that would affect his reputation or would affect his family.

 

[Jlife]

Yes this happened to me before with a friend, there are good people that can pay back the debt they have collected and there are some people who cannot pay it back and that will not stop me from giving out help if I have an opportunity.

 

[Abigael]

It is actually a very bad experience that people go through just to collect their own money. The sad thing is that the law is designed to protect the debtors more.

It is so sad indeed. Most debtors can get away with your money without the law doing anything about it. Especially if you never insisted for a contract to be signed before lending them the money. In the end, you will not have enough ground to sue the person.

 

[Richard92]

It is so sad indeed. Most debtors can get away with your money without the law doing anything about it. Especially if you never insisted for a contract to be signed before lending them the money. In the end, you will not have enough ground to sue the person.

It is very difficult most time to recover your money from a debtor especially when you did not get a collateral from the deptor

 

[kay169]

It is a very difficult task ! That’s why before borrowing or granting loans to someone I study the person in order to avoid unnecessary drama later !

 

[Bousine123]

I think following up with them as much as you can will make them pay up. You can also explain to them that the money is needed for your business to grow.

 

[Heatman]

Personally I only talk to my friends when it comes to dealing with doctors is that when it comes to someone who doesn't really want to pay you back the money that he or she is supposed to pay, you should just move on and not waste of resources trying to get the money back.

 

[Tracee]

Very very very difficult to the extent before I lend anyone money, it's money I can afford to loose so if they go into fast and furious mode I will just walk away, life is too good for such added stress.

 

[Hena101]

I have tried and recover some but most of them i have to just go of them because they are not ready to pay and from there i stopped giving credit to most people.

 

[kayode10]

It is very difficult to recover the money you lent out to people. This is the reason why it is being said that you should never lend out money you can not for go.

 

[Chibson]

A lot of people I have fond of borrowing money that they cannot be able to pay back and that is very bad. I always trust the people I borrow money to.