How do you manage to collect your receivables 100% be it from friends or clients

Philippines
January 12, 2010 7:00am CST
It is really hard to refuse our friends who borrow money from us. The problem is, how would you collect from friends which they would not be offended? Most businesses will not easily grow if it would not extend credit to customers. The challenge is how to collect the receivables 100% on time? Any suggestions my lotters?
2 people like this
1 response
katsalot1
@katsalot1 (1618)
•
12 Jan 10
Just ask straight out. People will quite often assume that you are not bothered by them not paying you if you don't say anything. If they are really friends, then paying you back should be their first priority.