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

[Grant]

Well that's the thing. You don't really have the option to get money back from a debtor, because debtors are there to collect the debt you owe. So technically, you probably won't be able to recover that debt back.

 

[Shigobad2020]

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.

Some people cry and beg like their life depend on it when they want to borrow money, but immediately they get the money , they turn theirselves into king and you keep running after them.

 

[Sprite1950]

I haven't had any business debtors but I have lent money on a personal basis to people who have never paid me back. I once lent £50 to a woman I knew who was crying because she "could not afford to buy her little girl new shoes". I felt sorry for her and lent her the money but unfortunately she avoided me after that and I learned she was a big weed smoker. That's taught me not to be taken in by a sob story.

 

[Billy]

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.

Yes, that is true. And in fact, with the pandemic, the situation has even worsened. Personally, i would have a limit of credit that i extend to people in a month. This is calculated based on my income and expected profit. I will make sure i don't exceed that amount. Also, the amount i advance people as a loan, is what i can afford to lose. I don't give people money that i will suffer if they don't pay back. Things are hard now, and if you are in a position to help someone, it is good to assist.

 

[Sotherefore]

It is always something i observed,it is always very difficult for you to recover the money you gave out to someone as a debt although it is not everyone because after getting this money from you this people might not actually be interested to return this money because maybe they just believe that you should just give them the money just like that.

 

[Heatman]

I can remember one of my friend's experiences with his own debtors who would never pay him even after a long call and pleading to pay him his money for business done.

 

[Monster Masterpiece]

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.

This is biggest issue as it is your brother or sister or your aunt they want to buy from you with big discount and sometimes for free so you have to open a store far from family and relatives to avoid such kind of loses that you may face periodically.

 

[Kunkun]

Lol definitely, it's sweet to borrow buy bitter to return when the times comes, sadly there have been cases like this but it shows the kind of person one is, because a lot is being tarnished

 

[Heatman]

From my experience in being inside business for over 5 years now there are so many people who are not eager to pay your money when they are telling supposed to pay you so it's just actually risk that you decide to take when you sell your people products on credit

 

[Alexandoy]

From my experience in being inside business for over 5 years now there are so many people who are not eager to pay your money when they are telling supposed to pay you so it's just actually risk that you decide to take when you sell your people products on credit

Yes, there are many debtors who do not have the willingness to pay even if they have the capacity to pay. I have lost a lof of friends when I lent them money. They would hide form me and avoid me until we have lost the connection. Now I have a policy to not help those who are in need of money.

 

[Eodine]

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.

Helpful tip, I know if a company that runs a background check and credit score just to be sure such person can pay back the product or service requested for but one should still create room for provision for bad debt

 

[Kelly5]

Some debtors are just very bad for business I must say here, because it is not as if they don't have the money to pay back their debt, they just want to hold on to it with the hopes that you'll forget about ever asking it from them again

 

[eLdavis]

It can be very hard majority of the times. They keep on posting and posting you, giving you excuses. Some even ignore your calls and avoid you. The one that is shocking are the ones who actually becomes hostile towards you

 

[Heatman]

From my experience in having been dealing with debtors over the past few years I believe that most of them don't really want to pay the money that they owe rather they want to drag it out and see if they will eat the money.

 

[Richard92]

Some people actually good at not paying for what they actually bought and as a result makes it difficult for Whoever ourselves to them to sell to other people when they cannot be able to be there by damaging relationship

This is one reason why people do not borrow out their money to debtor because it is very hard for you to get your money back from a doctor after you have borrowed them most times people have to take collateral in order to give out money.

 

[Chibson]

one of the reasons I don't like borrowing people money is because they find it very difficult to return the money they will peacefully borrowed it to them. It is better give people free money than to lend the money.

 

[Heatman]

Some people don't really like pay for the money that they owe when they are supposed to. It's actually why most people don't really like to sell their products and services without paying cash.

 

[Kingsley]

This thing is truly difficult, it shows how people truly are sometimes they are so quick to come for the loan but when it comes for them to payback they begin to produce all soughts and forms of excuses which are not tenable. All this is due to the fact that the loan was not use for the right purpose.

 

[Heatman]

From my experience and understanding about how some people tend to behave, they don't have any form of integrity when it comes to having honors. So, they can betray anyone for money.

 

[Richard92]

From my experience and understanding about how some people tend to behave, they don't have any form of integrity when it comes to having honors. So, they can betray anyone for money.

It is very difficult for you to recover your money from a debtor especially when you did not collect collect her from he or she with these it will be difficult for you to get back your money.