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3 strategies to adopt in recovering bad debt
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[QUOTE="Kingsley, post: 245257, member: 30278"] Yes this I indeed very true. I very much agree with your highlighted points. The truth is humans can be very wicked sometimes, some people do these things deliberately. They will approach banks and even individuals for financial help and when they come they will present a very strong read why they need the financial assistance and some will even go ahead to show you the road map as to how they will pay back, by telling you stuffs about some business transactions that they are involved in, but as soon as you release the funds into their account they suddenly become a very hard nut to crack. I have had several experiences with people that has approached me for such assistance and in the end they disappoint in terms of paying back. I had several experiences too when I was working for a microfinance bank. We do see customers that will approach the bank for loan and in the end retrieving those loans were very tough as we hard to track them down through the meetings leaders and sometimes other members of the meeting do pay on behalf of the defaulter. So I will strongly support that individuals and organizations should adopt the gentle approach and fire bridgage approach depending on the client. [/QUOTE]
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3 strategies to adopt in recovering bad debt
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