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

[Ebuka Stephen]

Yes this very true most debtors end up never paying and this is quite bad, normally what I will advise is that before giving out on credit or loan their must be a collateral or an agreement written to show that if he does not pay with in the time period mentioned then the step that was agreed will be taken

 

[Heatman]

Yes this very true most debtors end up never paying and this is quite bad, normally what I will advise is that before giving out on credit or loan their must be a collateral or an agreement written to show that if he does not pay with in the time period mentioned then the step that was agreed will be taken

Seriously, after my several experiences years back with those whom I trusted and lend them my hard earned money but almost got to the point of throwing fist just to get my money back from them, I have canceled lending any penny to any soul.

 

[Blue house]

If Someone falls in the hard luck of a bad debtor, you might even curse the day you met him or her, there are some debtor that will owe you money and still refuse to pay it back peacefully without stress, before some bad debtor pays up there money it will be solved in the court of law. .it is not an easy task collecting your money from a bad debtor.

 

[singlej007]

Collecting money from deptors is not easy, if not with maturity and smiling face, you will end up having issue with the customers. We use religious centers at times for the most difficult once, to plead with them to us, is not easy.

 

[Sanusi]

It depends on the type of person you give your money to, some debtors pay while some don't even pay at all, more so the ones that don't pay would have promised you that they will give you but inturn they will fail to give you the money they borrowed from you.

 

[Heatman]

If Someone falls in the hard luck of a bad debtor, you might even curse the day you met him or her, there are some debtor that will owe you money and still refuse to pay it back peacefully without stress, before some bad debtor pays up there money it will be solved in the court of law. .it is not an easy task collecting your money from a bad debtor.

Most of the times when you push too hard to collect your money from a bad debtor, you may likely end up not getting it or spending more money on the case to recover the money. It all ends badly for you because instead of gaining and making profit, you end up losing your money and your time.

 

[Abu4exel]

Customers can be very cunning at times. You as business owner might want to please your customers, so that they would be able to come the next time. Some might even collect good worth of million from you but when it's time, they would refuse to pay back

Post automatically merged: Feb 10, 2021

Customers can be very cunning at times. You as business owner might want to please your customers, so that they would be able to come the next time. Some might even collect good worth of million from you but when it's time, they would refuse to pay back

 

[Kehinde]

Send a gentle reminder. ...
Discuss or negotiate terms of payment with the debtor. ...
Review your agreement if there is one. ...
Send a monetary demand letter. ...
Consider using a debt collection firm. ...
Explore alternative dispute resolution methods.
Send invoices right away. ...
Be persistent with late customers. ...
Charge late fees. ...
Set up a payment plan. ...
Hire an attorney. ...
Take clients to small claims court.

 

[Jeremiah Trump]

Infact From my experience I would advise people not to give or borrow out money in business because it is bad and once that is done then it is another thing to talk about because they are some people to borrow money their mouth will be sweet but when it is time for the due payment to be paid back then you will see one bad behavior in them that is why I don't borrow .

 

[Olubayo12]

Honestly speaking, it is a very difficult task... you then begin to wonder why you have chosen to lend them your funds in the first instance. when you lend people money, they will be acting nice and cool but when it's time to pay back, they become something else.

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.

 

[Heatman]

Customers can be very cunning at times. You as business owner might want to please your customers, so that they would be able to come the next time. Some might even collect good worth of million from you but when it's time, they would refuse to pay back

Post automatically merged: Feb 10, 2021

Customers can be very cunning at times. You as business owner might want to please your customers, so that they would be able to come the next time. Some might even collect good worth of million from you but when it's time, they would refuse to pay back

Some people are wired that when it comes to saving money and keeping the hiding their customers in Okoyo. My brother started his own books in the same way hand we are doing every well even thought they cheeky comes aries.

 

[Nabeel119]

Immediately after finishing college, I fell into a job that I was not happy with. At the time, I had no idea that it was going to provide me with a valuable skill – one that would help me avoid losing thousands of dollars and also give me the chance to help others protect themselves against monetary losses.

 

[Olaoluwa Abraham Abiodun]

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.

 

[Heatman]

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.

Seriously, no matter how you look at it, debtors never help any kind of business at all when it comes to business growth, rather they will keep drawing you back and if care is not taken, they will drag you and your business down. So, with that being said, cut off debtors from your business as possible as you can.

 

[Asad Ali]

How difficult it is for an individual to collect the debtor's money. Well, I must admit that it is very difficult and stressful to do this; certain consumers are fortunate to receive credit for goods or products but exploit the opportunities by not paying as it should and this destroys the finances of business. The person should drop the value of the goods he purchases. It is better.

 

[Emma Aneni]

There is a lot of difficulty when you want to collect your money from a debtor, that is why as a business owner or professional you must be wise to have a written agreement with the buyer before you give them any goods on credit.

 

[kayode10]

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 can be very hard to recover your money back from the debtors. people are fond of looking things whenever they want to receive a credit or a loan from you. But once they got it they will turn to something else and you'll be the one doing the chasing to get your money back. This can turn to an ugly experience, therefore it is good to avoid anything like that to happen.

 

[Tinaconcept]

Getting your money back from debtors is not easy in fact there are some of these debtors who expect you to automatically forget about the loan when he has been owing for long, when giving out its good to be careful make sure you lend out or sell on credit an amount you can forfiet

 

[Dowenship]

The first thing we should always put at the back of our mind is, there will always be a debtor as long the business is a buy and sell type, which its seems difficult to deal with.
Quote of the day:
Work and pray as been the phrase to encourage people for years! and that be said is true! Always work and pray

 

[Adexgrace]

The issue of customers delaying payment is everywhere, And it not possible not to sell to them because they help in increasing sales.
One have to give them deadline for payment before supply them and make sure advance payment is made.