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

[Chizfab]

It's easier said than done, it's better to curtail such behavior from the client from the beginning. Some businesses make it easier for owners to curtail such activity, for instance, as a fashion designer, my clients pay an instalment for their clothes because l tell them that l need cash to buy the sewing materials l need to make their clothes, and once l am done with their clothes, they will pay up the balance to collect their clothes. Failure to do so means that your clothes will remain with me.

 

[Setho]

They are often a lot of people who usually take goods or borrow money on credit even when they know that they did not have a reliable way that they can pay the money back.

 

[Snazzy001]

The mistake that most people do is that they give loans to people without even checking their capability to pay back and that will affect you greatly

 

[GoldenLady]

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.

Though this may seem harsh, the best way is to avoid selling on credit. If you want to do so, you should have a backup plan for how you can get your money back and also how you can get capital to continue running the business while waiting for payments.

 

[Richard92]

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.

It is very difficult for you to recover your money from the Jeff to especially when you transact the business with the person without a collateral

 

[Kubiat-Abasi]

It is very tasking! I've been involved in such risk chances especially with close counterparts. Borrowing is quite easy for them but to refund is a case study. I've quit the habit of borrowing because it doesn't turn out well for me.

 

[Kaffyfolla]

I can categorically say debt is pate of business because there no way it could be avoided, it get to a stage where some bad debt are even written off but honestly you have to let the customer put it in written document when debt to be paid if it an huge amount

 

[Justin]

If you take precautions, I do not think it is difficult to recover your bad debt. You need to check the credit score, and the previous burrowing history of the burrower.

 

[akinlolu99]

Dem, recovery your money from debtor is one of is one of the hardest things to do most especially when the debtor is somebody older, all manner of excuses then to come up and the truth is at that point I don't know if it is Patience but you would have to grow it very well because at that point is when you would have to understand with the person it's not because you care but because the person could decide to give nothing back and because the person is older you'd want to be careful note to self the person off with Anda

 

[Immilash]

the best thing to do is to know the kind of debtor he is.wnd know how to confront him for your money.but when he or she refused to refund back your money you then let it go.i believe with time he will come and ask for another thing and you know what to do.

 

[Sotherefore]

Problem may arises because of this that is why I always advise people not to get money from people to do anything because it might really be difficult to get it but might be very difficult for you to return it back and also we should know the type of people we are giving money to.

 

[Smiles20]

This is one of the particular reasons why I do not lend out business funds or give out goods on credit. The legal system here makes it very difficult for you to obtain your money bank on time.

 

[Thinker009]

I think you should not even borrow your customers goods that you are selling , because they would obviously delay paying you your money at the required time you actually want back the money,and if you pressure them you might lose them

 

[Nomad]

If you have written compact and if your compact has been signed in front of a legal person and has witness, it is not very difficult to recover he money. I have been on this situation.

 

[Lucy ID]

Getting or recovering debt for debtors is very difficult and sometimes impossible to collect sometimes it's ended been a bad debt for business owners

 

[Dagm1]

Customers usually have a pitiful expression when they want to buy on credit, and you have no choice but to pity them and sell them on credit, but getting them to pay will be an issue because you will be the one chasing them down. The only thing you can do is involve your lawyer.

 

[Toyoabasi]

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.

Dealing with customers who refuse to pay up their debts on time is always the worst producer-customer experience ever.
I almost took a man to court for not wanting to pay back the debt he owed my business for close to a year.

 

[YERUS]

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.

Some debtors will come to you begging and begging when they want to get the money, but when the time comes for them to repay, they change into something else.
bad debtors are not good as customers, they may contribute to ruining your business.

 

[kayode10]

It can be very hard to recover your money from the debtors especially when the economic situation of the country is a bit hard. this is the reason why it is being said that you should not lend out money you cannot give.

 

[Seno inyang]

Most times it's very frustrating selling on credit for an existing customer because of the business relationship but when he or she is not making efforts to pay as promised. On a normal day, I refuse selling on credit to anyone even if I have those stocks of products staying for too long, I believe others will buy it or I end up selling it off in auction prices than selling it on credit to a number of customers and it goes like that. In a case like this, one has to keep reaching out to them and pleading that they try and pay up( that is if they don't end up blocking your number because most of these humans are heartless without a second thought. Some of them will need a serious threat depending for how long you are being owed, you might bring up a legal threat by involving the police.