How to recover money from bad debtor

[Kubiat-Abasi]

Selling things on credit to my customers make me lose my poultry farm. Presently, I don't have any business and if I ever happen to borrow somebody money and the person refuses to return it, I will go all out for the money not minding the relationship between us.

 

[kayode10]

There are some bad debtor who you needs to frustrate in order to get back your money. Do not Grant them a breathing space until your money is being paid. You can report such a person to the right authority.

 

[joy101]

Recover money from debtors you have to be patient with them never to be over reacted to them, so that they can pay their debt this is the best way you can recover your money.

 

[kayode10]

The economic situation of the country is now turning people to bad debtors. Most people are now finding it difficult to pay back the loan they obtained from friends or relatives.

 

[Ezekiel]

The best way to recover money from bad debtor,is only if you had a legal aggreement with the person then you can take the person to court

 

[Immilash1]

it is recommended not to give out debts to people your not sure of.many people take this as a habbit.but the best thing to do is to ask the debtor, when he or she refused to refund back your money you let it go.an never give to that person again.

 

[Godspower]

Start by sending regular reminders about the repayment. Also arrange with such debtor on convenient payments arrangements that will make it easy for the person to repay the loan within a given period of time.

 

[Heatman]

I have had several cases where those that I lend money to would be too reluctant to pay me back my money and in most cases, I leave it for them.

 

[kinqzbitz]

Well I have never been in that position before and so I don't really know how I would have gone about it but then I see some people actually going to the police because of this

 

[Smiles20]

I think the best way to go about this is just to give the case to the law enforcement agencies. Contacting the person's employees is also a very good step to go so that you can be able to get your money directly from them.

 

[Ghost1]

We always have the court. Bad debtors are criminals, there should be brought before the court and definitely things would always go your way. That's the best way

 

[greenie]

It is very difficult to collect money from bad debitor as a business owner, but you must use strategy in getting back your money, you should always be wise because some costumers can be a pin in the ass because you do not want to run down your business you must be very concious. You ask them gently and take note or have legal backing when giving and collecting your debit.

 

[Omotayo]

The best possible way to deal with this, is not to put yourself in that position in the first place. Do not offer things on loan or credit especially when it comes to business.

 

[Toyoabasi]

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?

There are debtors who even after giving them a long repayment time, they still don't want to pay back. Some of them even turn enemies with you. When I encounter bad debtors like this, I know the time is right to invite the police.

 

[kayode10]

It can be very hard to recover the money all alone. I will advise you to involve the authority in the process of recovering the money from the debtor. The authority know the appropriate steps they need to take in order to recover the money for you.

 

[Shigobad20201]

It is very difficult to collect money from bad debitor as a business owner, but you must use strategy in getting back your money, you should always be wise because some costumers can be a pin in the ass because you do not want to run down your business you must be very concious. You ask them gently and take note or have legal backing when giving and collecting your debit.

Selling goods to someone or customer you don't trust is not advisable in the first place , and i believe the law is the only solution that can settle the issue between a bad debtor and the owner.

 

[Kaffyfolla]

If you have a good relationship with your debtors then you may be able to avoid the courts by speaking with them, at first informally. A personal phone call can often clear the air, and you should be able to discern a genuine reason for late payments from stall tactics and excuses. It is better for everyone if you can solve the issue in this way.

 

[tyrim88]

But debtors can be difficult to handle especially in the case where the money involved is much. The law will have to intervene and the period to reach the person is supposed to pay back will be extended to fit into his capacity

To get your money back from a bad debtor could be a very huge task,because if not properlly handled one might run into issues,expecially when the money was not documented,but persuation and can help to resolve the debt issue.

 

[Sincerem]

It always advisable that before you proceed to give your money to anyone as a loan you should always have a written agreement and some witnesses and then the borrower must be willing to sign a collateral for the money they are about the take. This would help when the person refuses to pay back.

 

[Shigobad20201]

I have had several cases where those that I lend money to would be too reluctant to pay me back my money and in most cases, I leave it for them.

I have learn from the hard , there are some people that are always reluctant to return the debt they owed because they feel relaxed after borrowing the money , so i normally lend people the money i realises wont affect me if they dont pay back.