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

One way or the other, we have both been victims of debt. Is either we are indebted to someone or someone is indebted to us… I will be sharing with you guys my little experience I’ve had with “debts”. I will also love to invite @ameh123, @mandate and @us-andrew to participate in the contest.

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Debt is an agreement between two parties, the lender and the borrower. The lender either provides money or resources for the borrower who promises to pay at a later date with interest on it. The agreement between the two parties is base on contract to avoid any unnecessary conflict when the lender wants to collect back their cash.

From my own perspective, I see debts as a necessary risk we take as humans especially if you want to sort out a pressing challenges at that moment to be paid back in bits or in full at a stipulated time. Debt is beneficial when you have a project you want to execute and will generate revenue for you to pay back the money.

But if you choose to behave like our Nigerian politicians, who take debt just to spend on frivolous things rather than building infrastructure that can generate money, you will be at the mercy of the lender. Take for instance, the issue happening between Nigeria and China in debt collection. So, before taking any debt, there must be a clear set out plans to pay back.

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Yeah.. I’ve been indebted before. In fact, when the time came for me to pay back, I ran from my house to the village because they were looking for me with police.

Well, it all happened during the early days of Ponzi in Nigeria. “MMM Nigeria” just came into the country and the jingles about the platform was too much, I had to join because I’ve seen how the platform had turnaround people’s lives. A friend of mine was making it big time on the platform, so I begged him to borrow me some money to add to the cash i have.

My plan was to cash out big, by paying my debts, collecting my principal, and then run the platform with the profits but unfortunately it didn’t happened the way I planned. They were smarter than me. “MMM NIGERIA” crashed, and my money alongside my friend’s money got stuck inside. After a few weeks of hoping that they will resume by January, it became very clear that they won’t come back.

Just when I was mourning the loss of my cash, this big headed friend of mine came with his own trouble that I should pay him back the money he borrowed me, that he doesn’t have a cent to his name. I was just so confused. Like ladies we always say “after all we went through together, you still want me to pay you back??”.

I just begged him to give me little time for me to get the money but this guy was too impatient. Before I knew what was happening, neighbors had called to tell me that my friend came to the house with police men to arrest me. That was how I ran from the city to the village to go and think about my life.

But guess what happened during my stay in the village???? A victim of MMM Nigeria, introduced me to steemit in 2017. Back then one SBD was worth $12/13. That was how I cleared my debt. Steemit was my life saver that year. That was the last time I ever borrowed money. I hate it with passion.

Yeah. A very close friend of mine that had a pressing need for money back in school. He needed to pay for a particular text book or else the lecturer would chase him out of the classroom and that day we were having test. The way he sounded that day, it was as if, he had the money with him and he forgot it at home.

The money with me at the moment, was money I planned to pay for a small contribution group that I was part of. I gave him the money, so he could get the test book and participate for the test. The test was over, it was time to go home and collect the money, the guy started playing a fast one on me.

For almost week, the guy kept deceiving me and it was almost getting close to the day to pay for my contribution. I had to go back home to lie to my parent, that I’m in need of a test book, that was how I got the money to pay for the contribution. As for the guy, I just avoided him.

He later brought the money at his own convenience about a month later. I took it, but it didn’t mend our relationship. That guy made me decide about lending money. It’s far preferable to give what I can afford to lose, whether you pay back or not, than to give money that will make me start chasing you around the country. So far, this approach has been of great help to me.

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For me, people are different. The approach you use to follow a kind person is different from the approach you use to follow a very arrogant person.

• Some people just need a conversation to get your money back. By constantly reminding them in a respectful manner, they will pay you back the money when it arrives. However, maintaining an empathetic approach throughout the process is very important.

• While there are others that feels less concerned unless you use force or you embarrass their life, that’s when they will pay you the money. In Nigeria, this loan sharks company do that a lot. After they have exhausted all their options of taking back their money, they will start embarrassing you by putting up your picture in an “obituary” template, “wanted” template or criminal records. They will make sure the picture goes viral before they stop.

• Another set of people, you need to use thugs or bad boys in the hood before you can collect your debt back or else you won’t see even a cent. When you ask them for your money back, the excuse they will give is that “they are not the first person owing. After all, government is owing too”. Those set of borrowers are entitled set of people, you need to rough handle them a bit before your cash comes out.

• The last but not the least are “The rich and the powerful”. You will do work for them, they won’t want to pay you because they know you can’t do shit about it. In fact, when they see you coming from their cctv camera, they send their armed security guards to chase you away. Those ones, you summon them to “juju” house ( black magic). Let the god of thunder fight for you. It might sound funny but it happens. Lol..

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Indeed, there are some problematic debt you just have to leave for peace to reign before it takes your life in the process. There are some debt that are bad debts and there’s no amount of trouble that will bring the money. In some case, the amount you have spent on different lawsuits alone, is enough to clear the debt you’re struggling for.

In extreme situations like that, you just have to let go for peace and leave it for God to fight for you because they may have wan the battle but the war ain’t over yet!!

Cheers!!!