Do you have any debtors, either personal or company? Well, if someone owes you money, would you ask? Did you answer YES because you believe it is your right to ask? What if your debtor refuses to answer or pay you? Will you continue to ask or just shutup and let it be?
Unfortunately for some of us, we have debtors who believes that it is their birth right not to pay on time and only do so as and when they wish to. In addition to that, creditors are not allowed to ask.
Here’s my personal encounter (unfortunately)…..
This self-proclaimed good paymaster businessman has been an old friend of the family for more than 30 years. Why do I call him self-proclaimed? He is without doubt a RICH man with businesses in a few countries and also involved in few industries. BUT he does have a habit….settle his debts late.
Well, as the saying goes, “better late than never” right? In this case, true because by virtue of being an old friend of the family, he was given some extended grace. However, instead of being appreciative and grateful, situation went from bad to worse to outrageous.
Any normal human being would ask if they are owed money. It is their right to ask. In our case, we asked too. Initially we were told that it is “alright” to ask and we should do so. When one ask, one expects an answer….right? Well, we asked, asked and asked….then there was “silence”.
The silence was almost deafening!!!
We used many different approaches in trying to seek an answer, i.e. sms, email, phone calls, etc. but all yielded nothing. We began with asking once a week, then 2x a week then more frequent. It became very frustrating. Here we had our financial obligations to meet and there we are being “ignored”.
One fine day, this RICH businessman called us to express his unhappiness of being asked so frequently. Hey, what are we supposed to do? We had ZERO answers. There was only silence. He claimed that he would pay if we stopped asking. Not quite an answer we wanted but still, it was something.
So we stopped asking and waited……waited…..waited….and waited. After months of waiting, enough was enough. We resumed our debt recovery action (the most extreme measure) because we were left with no choice.
Proceedings are being initiated for the recovery of our money and our fingers are crossed for a favorable outcome in the very near future.
Oh, by the way, did I mention that we were threatened with legal action in the midst of it all? All because we asked for a debt….*sigh* what is this world coming to.
So what lessons did we learn from these all?
There are no friends in business
Your kindness may not be reciprocated
Appreciation and gratefulness is not guaranteed
Business is business. Friendship is friendship. Do not mix
At certain times in our life, we must do what we have to do. Period.