Being in debts, is a situation everyone once found him/herself. When the deadline to pay your debts gets closer, your heartbeat increases and you become restless on what to do. Your integrity is at stake, your reputation might be dragged to the mud and creditors might lose trust in you if you fail to keep to your words. So what do you do? How do you deal with this debt situation? For some, they think of blocking the creditor from accessing them – wrong move.
“The man who never has money enough to pay his debts has too much of something else.”
-James Lendall Basford
I once borrowed money from a friend and couldn’t make the deadline. I knew with the circumstances surrounding me, that I was not going to make it. But what did I do? I made sure I informed my friend that I won’t be able to make it – I know he felt bad. I kept the line of communication between us open. I never ignored his calls or shy away from seeing him. People tend to do this while in debt which is very wrong. Once I had the money, I made sure I paid immediately and apologized.
I have also been in situations where I lend people money and they never paid neither did they communicate. They closed the line of communication on me. I couldn’t access them and it ended our relationship. If they had informed me, kept talking to me about what was happening, though I might feel bad, our relationship would still be on. Some persons have had their reputation totally damaged because they blocked a creditor from accessing them, leaving the creditor with no option but spreading their wrong deeds.
“Some people use one half their ingenuity to get into debt, and the other half to avoid paying it.”
In business or any relationship, while in debt, never cut the line of communication because it will lead to loss of trust, integrity and reputation. Keep your communication open.
Let me know your thoughts.
Live within your means, never be in debt, and by husbanding your money you can always lay it out well.”