Sotherefore
VIP Contributor
Bad debts as I understand is a situation in which a loan collector cannot pay back The loan he or she has collected and one of the most popular reason is because they are not able to generate the required profit they expected..
As a debtor it is always necessary to make all adequate arrangement to pay back all the money you have collected for any reason , not minding whatever you used the money to do . if a debtor is being taken to the court , the law will hold the debtor responsible because no matter what may be the reason it is expected that you pay back the money you have collected.
Because of this a lot of people are always afraid of giving out loans and credit to people because they believe these people may not be able to pay back the money they have collected .
For a loan owner I believe the best way you can be able to get back financial assets when a debtor has purposely refused to pay is the use of government and security agencies.. sometimes fighting on your own may not helped this problem to be solved anytime quicker..
what other ways do you think we can get back our money from debtors..? Comments below.
As a debtor it is always necessary to make all adequate arrangement to pay back all the money you have collected for any reason , not minding whatever you used the money to do . if a debtor is being taken to the court , the law will hold the debtor responsible because no matter what may be the reason it is expected that you pay back the money you have collected.
Because of this a lot of people are always afraid of giving out loans and credit to people because they believe these people may not be able to pay back the money they have collected .
For a loan owner I believe the best way you can be able to get back financial assets when a debtor has purposely refused to pay is the use of government and security agencies.. sometimes fighting on your own may not helped this problem to be solved anytime quicker..
what other ways do you think we can get back our money from debtors..? Comments below.