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How to deal with debtors

Image courtesy of Stuart Miles at

In a previous article I wrote about how to deal with creditors/debt collectors. Today, I am going to write about dealing with debtors. First of all, make sure you do not deal with interest, it is bad for you. Some debtors are difficult, they will not make any attempt to talk to their creditors, some will do whatever they can to avoid creditors. When you have a debtor, for example when a payment is due and the debtor has not made payments. 

* Call him/her politely to remind him/her about the payment cause it might have skipped their mind.

*After few days if the payment is not made call the person during condusive hours, that is after 8am and before 9pm. Ask for your money clearly, politely and firmly. Let your debtor know you have fulfilled your own side of the deal so it is now their turn.

*Do not abuse or threaten your debtor, just make sure you are firm. 

* If no payment is made still, ask your debtor  why they have not paid and be sympathetic with their reasons. Showing that you understand their reason will motivate them to pay up if you offer them a less stringent way of paying. For example, you can let them pay the money instalmentally or make payments on a much later date after showing you a proof that they will be able to pay later. Most people will pay back when less stricter options are provided.

* If no payment is made still, then a debt collection agency could be used, however if the cost of using a debt collection agency exceeds the debt then do not use the agency.

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