Steem4nigeria Accelerator Contest Week 54 What is the best way to retrieve debt?

Greetings to you all whenever you are seeing this post from, I wish you success in everything you do. Is another beautiful day and it is a pleasure to part-take in this content title: Steem4nigeria Accelerator Contest Week 54 What is the best way to retrieve debt?. And I want to gladly thanks @steem4nigeria for organizing this wonderful content.

We all, in one way or the know what debt is, but before I tender my opinion on content I would love to invite this beautiful and handsome friends of mine @aluustanley @entity01 @bela00 to participate in wonderful content.

What is debt? and how do you understand it.

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A debt is a sum of money that is borrowed or loaned for a certain period of time and to be paid along side with the interest if it was agreed.

Debt can simply be understood as the specific amount owned by the borrower to the lender. When you have borrowed money you definitely need to pay back. Rapidly, many people borrowed money when they don't have enough to pay back. Majority of them don't even have the source of income in which the money can be paid back .

Have you been indebted before? How did you pay back?
In as much as I don't like debt but I have in some circumstances been in debt before, and I believe many people has too.

But before I borrow money, I must have ways to pay the money back or I will use the money to generate more money to pay the debt.
When I have financial problems like my house rent, I will write a letter of IOU with the amount I want and give it to my Boss, when he go through the letter and decided to help he will call me to sign again on the letter.

The debt will be automatically be deducted from my salary in full or in agreed instalments.

Have you ever regretted helping someone due to repayment approach from previous helpers? Share your experience.

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Yes, on Christmas Day in 2023 my neighbor was going a cancer treatment and the belt of their only car broke out and her husband and son weren't working.

They came to me and borrowed some money to pay back in 3 weeks which I did. They purchased a replacement for their car. After few days I was told the woman has passed away I felt the pain and sent my condolences.

At the church next week the woman husband was bragging about me, that am so generous he said.
That I gave them money to fixed their car.

After some months, the husband and his son made the repeated request about fixing things on their property. Because of their behavior last time I find it difficult to help.

What do you think is the best way to retrieve debt?
✅ EMPLOY DEBT COLLECTOR :
When you hand the debt over to debt collector, there's a strong possibility that the customer will realize you are serious about chasing the debt. They will pay up on time, either in full or in agreed installments. A letter from a lawyer or agency can also go a long way.

Do you think problematic debt should be forfeited for the sake of peace?

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To be candid and honest, that is pretty difficult in today's practical world. Not as if is impossible, yet to survive you need adequate resources and for the money is required.

I will always fight until I fed up, after trying everything I could without any positive changes. I will let go of it because some times we need to let go of something to be a better and a brighter vision of ourselves and the other person too. If you have done all that you can then you have to let go but don't forget .

Thanks so much for your precious time.