How to recover money from bad debtor

[Sucrelove]

It is very difficult to recover a bad debt even if u report to the police at the long run the debtor might start paying d money installmentally at dat point u can't gather d money to do a reasonable thing

 

[.V.]

I think the best way is to not be too merciful. Some debtors can tell sympathetic lies just to avoid paying you at the agreed time and only overly merciful people will fall for it.
Investigate your debtor to know if he or she is telling the truth before you act.

 

[eenya001]

This is a situation you will gladly pray to avoid because it can drain all the energy out from your body. taking back your money or valuable from bad debtor can also be time-consuming and nerve wrecking so I advise you involve the services of a legal practitioner if the debt is worth going to that extent but if it is not make sure not to repeat the same mistake again

 

[Nurudeen]

The first step to carry on those who owe bad debt is that you should first stop selling in debt to them after that you can give them some weeks notice to pay up your money if after the notice they refuse to pay up you can now then take legal action against them if you have good evidence to back up your case

 

[Lyrrex]

Recovering money from bad debtors requires you to have a lots of patience and hand over such debtor to the credit bereau. It's th
Credit bereau that will help you withdraw your money from such debtor.
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Recovering money from bad debtors requires you to have a lots of patience and hand over such debtor to the credit bereau. It's th
Credit bereau that will help you withdraw your money from such debtor.

Sometimes you need to involve the police in cases where the debtor refuses to pay.

 

[Judee201]

How sweet people sounds when coming for credits or to borrow from you will actually live you with no option than to consider them angels and saints who ever keeps to their words.

But once out of compassion you accept to help, they automatically change for worse. Even the devil will be amazed at their level of expertary in crafting excusses each time you request for payback.

They can even fake death just to avade/avert payback.

 

[Gilead]

As a startup in business the number one thing you need to avoid and be careful of is giving out your products or services on credits. it is very bad for business unless you have the mind of making it a kind of charity at first for people to patronize you better.

 

[Ridorz]

Dealing with a bad debtor to receive money will need a bit exercise of patience. Because some people have bad mind they owe you money and if you keep asking them to pay the money they will intend to you bad thing. Though, the amount of the money that debtor owe you will determine the kind of steps to take some time.

 

[Oluwatobitomisin]

To recover a Debt from a Debtor isn't simple because you wouldn't know when he or she has money.
As a Business Man, I'll never pray to work without getting Profits, if perhaps there are people you ought needs help from you by buying on Credit, why not just give out without expecting from them anything apart from this will just lead to having a lot of Creditors

 

[Godleads1]

Taking back that which rightly is yours from the debtor has something to do with divine grace. Patience is a major mentality at the stage of collecting your money from them which some might transform into a big scenario

 

[Kelvin7656]

Steps to follow If after the period for payment as stated in the Demand letter has expired, and the debtor has still refused to pay you, the next step would be to get in touch with a lawyer who will attempt to recover the debt for you.

 

[Praizee]

To recover money from bad debtor is not an easy task. To recover I may decide to reduce the interest the debtor will pay. And also introducing collateral. Like the debtor's house or even electrical appliances that are valuable and important to the debtor. I decide to involve the law agency that is the police.

 

[Alexandoy]

We experienced a bad debtor in my retailing business. The company is a big one but it was always delayed in payment. Our usual credit is 30 days but they pay after 60 days or even longer. However, that company is a major one with big orders so we cannot just drop it. The only solution is to add more capital to cover the shortage that affected our cash flow. In fairness to that company it had paid all its debts so we cannot consider any bad debts in my business.

 

[Dubai]

Some of the problems entrepreneurs often faced especially the offline business owners is dealing with debtors. Some customers will buy things on credit some will even pay half and sign undertaking to pay the remaining but will not pay. How do you deal with debtors? How do you recover your money back?

Bad debtors are the reasons many no longer give on credit. If your debtors are refusing to pay you, you have to go full force and involve the security personnel as it is the inky language they understand. You may decide to charge them to court too if after reporting to the police, and they couldn't pay. But you have to have a proof that you borrowed him and that he is your debtor.

 

[Highflyer]

To recover your debts from a bad debtor, I think you should start from an easy approach by trying to settle it amicably. Discuss on easy terms but if the debtor still refuses to pay you, involve the police, you should've warned him previously though.

 

[Shigobad20201]

Bad debtors are the enemy of business , and there's no particular way you can recover from them, don't sell on credit is the best option, but the last thing you can do is report them to the police and they will make a statement on how they will be paying back.

 

[Chibson]

Little wonder why some people paste "no credit today come tomorrow at the shops". Your business progress can be slowed down by bad debtors. Some people use because of familiarity to try to collect things from your shop without paying immediately. The earlier you realise that there is no familiarity or friendship in business, the better for your business.

 

[Frank]

Some of the problems entrepreneurs often faced especially the offline business owners is dealing with debtors. Some customers will buy things on credit some will even pay half and sign undertaking to pay the remaining but will not pay. How do you deal with debtors? How do you recover your money back?

It is always difficult to recover bad debts. Sometimes, you have to spend more to recover certain amount of money and this is why most bad debts are left to be unless you are a small business owner that has a way of begging the debtor to pay your bills.

 

[Doradorwa]

Hmm.... I always believe that your relationship with your clients will determine how long they will tie your money to their hand.... Send a polite reminder.... Give time and send another one... Have a copy of those reminder with you... Make one of your top staff call the person with a recording of the call... If nothing is forthcoming... Take the copy of the reminders to the police and to your lawyer.... Let the government help you get your money.

 

[Kelly5]

Some of the problems entrepreneurs often faced especially the offline business owners is dealing with debtors. Some customers will buy things on credit some will even pay half and sign undertaking to pay the remaining but will not pay. How do you deal with debtors? How do you recover your money back?

On the subject on how to collect your monies from a bad debtor. I will sugest that you report such a debtor to the authorities first. Then go to the debtors banks with evidence of transactions fo further actions by the institution