Being unwilling to pay back business debts.

[CALVINDOL]

A lot of circumstances may happen in the business that may cause a business owner to seek funds possibly from friends or from financial institutions that exist in the region or country that he or she possibly has established his or her business . It is absolutely a different thing for us to borrow a loan and it is also a different thing for us to have the willingness of repaying back the loan that we have collected or was actually granted to us . It may be easy for an individual or business owner to actually collect a loan weather from friends or from colleagues or possibly from business institutions possibly because he or she want to establish a business but it may not be easy for the individual to pay back the loan especially if he or she is a greedy and also a reluctant individual .

In order not to bring to our self unnecessary hardship and uncalled suffering it is 100-percent advise that we endeavour to pay back the loan that we have collected especially when we have the money to do so . Our peace of mind and sense of belonging is absolutely very important to us and in order to have a high rate of peace of mind and sense of belonging we must endeavour to be free from every debt that we hold two people and that possibly include business debts and even personal or individual debts . .

 

[allison001]

Hmmm. Most times business owners who has collected loans to establish their business will not purposely refuse not to pay back the loan they have collected, sometimes the reason for this is because maybe the business is not moving as they expected or they are trying to become more stable in the business so as to pay back the loan without it affecting the business. As a Loan giving organisation , it is expected of you to understand the reason why a debtors is not able to pay back the loan they have collected.. this will give you a clue and with that you can understand if the business is progressing or not.

But whatever the case maybe , as a business owner or anyone who has collected loan to start up any business , it is always expected of you to try as much to pay back the loan you have collected within an agreed period of time.

 

[Suba]

Officially, debt and receivable matters have been regulated in civil law, so if someone is not willing to pay the debt, they will be sued in court through civil law, and the judge will decide how the business/company is or have to sell assets to pay off debts. If you borrow money from an unofficial institution, they usually have debt collectors, with big bodies and will always terrorize and threaten your life. But if you want to be a successful businessman, you must always keep your promises and be able to pay off debts if the maturity date has expired, so that the lender's level of trust will be higher, and he will even provide larger loans to increase your business. become bigger and have higher turnover.

 

[TOZZIBLINKZ]

It is absolutely unthinkable to see that majority of business owners love being indebted to others despite having the money to repay back this debt that they have owed to others but because of the unwillingness and the reluctance of seeing their money being handed over to others there instead conserve this depth and let it grow . It is absolutely a very bad thing if a business owner runs his business by Owing others , and also it is absolutely a bad thing if we collect a particular money from another person without paying back the money in real time as expected and agreed .

In order to win the loyalty and trust of others who lend money to us it is advised that we endeavour to pay back the money that we have collected or borrowed at the agreed date and due time . In order to make sure that we could be able to pay back our debt in his advice that we make sure to collect or borrowing money that we are able to repay . Which shouldn't be blended with the sum of money that we intend to collect but rather we must be focused on the way that we could repay back this morning even if the reason why we needed the money does not turn out to be as planned or as expected for repayment .

 

[sincerem]

you don't have to put yourself at such situation, that's so weird indeed. I can't imagine myself facing debt and sounding unwilling to pay back. It is better not to borrow than taking the loan and not willing to pay back. I love staying out of debt, and I hate taking loan for business start up. Recently I repaid all my loan and vowed not to borrow again, due to their high interest rate. I am managing the funds I've saved up, which come as a result of my work online. I don't own any offline business, my online business is at the infancy, but I believe it will grow based on hard work, and consistency and being innovative. Saving funds have helped me alot to raise funds, I will save and invest gradually to avoid taking loans anytime in the future, due to the high and unbearable interests rate.