Credit Control ( or lack of on the small accounts)

[Jack Peterson]

The weekend consisted of Visiting and eating plus just looking around, Nice But the costs all added up

Yesterday on having a chat to Her indoors about cash flow, we went through her small business accounts and to both our Horror we have some 35k+ peso outstanding from Customers/Clients that although owing only small sums individually in Total it was indeed a surprise. A few Phone calls and a couple of Visits got promises But......................... No cash. I am normally a hard liker of our Filipinos but sometimes I do sit and wonder, do they have a conscience about monies owed big or Small? Part of Lifes' tapestry I guess but when her indoors moans about cash Flow and I find she can be too soft at times I do get that She is Hard most of the time But................................

 Minor Rant over 

 I know that some if not many will Relate to this

Edited August 27, 2019 by Jack Peterson
added a small bit

[graham59]

I thought this was 'standard procedure' in the Phils  (regarding money borrowed as a gift).

That is why I never give credit here (in other words LEND)... don't care who it is. 

If it is an emergency, that directly affects ME, then I will donate, not lend.  Saves falling out with people. 

I don't care if people resent me for it (though I'm not stupid enough to make anyone lose face) .

I spent 50 years working hard to earn my pension, and I too have a family to support. 

If some fit young man with 6 kids is in need, then maybe he should buy some contraceptive pills and condoms.   

[Jack Peterson]

1 minute ago, graham59 said:

I thought this was 'standard procedure' in the Phils  (regarding money borrowed as a gift).

 Yes that is so but the issue I write about is Business related ie; monies not paid for services or goods supplied

[graham59]

[Jack Peterson]

Just now, graham59 said:

 With respect Graham You would not last too long I fear in business here or anywhere, Business works on Credit But...... my meaning is the small accounts that get overlooked, The Larger ones we have no problem with BUT she has decided to impose % penalties now and signed forms which she never did before, Think if we had to pay for everything up front. NAH! Controlled credit has its Place my friend and Control is what it will be because if things get written off ( as some things do) It is me that is the loser as many times it ends up on my lap as the Family banker  

[graham59]

Just now, Jack Peterson said:

 With respect Graham You would not last too long I fear in business here or anywhere, Business works on Credit But...... my meaning is the small accounts that get overlooked, The Larger ones we have no problem with BUT she has decided to impose % penalties now and signed forms which she never did before, Think if we had to pay for everything up front. NAH! Controlled credit has its Place my friend and Control is what it will be because if things get written off ( as some things do) It is me that is the loser as many times it ends up on my lap as the Family banker  

 

With respect also:

I don't see a difference between the two types of debt in this country.  

I have run a successful, profitable business in this country and in the UK in the past...without extending credit to any of the locals. 

If you don't want the opinions of others without insulting them, then I suggest you  don't use expressions such as  'I know that some if not many will Relate to this'.

I.E.....inviting a response.  

[Jack Peterson]

6 minutes ago, graham59 said:

I.E.....inviting a response.  

  No one has insulted you, that my friend is in your mind but................ your opinion is noted

[graham59]

Yes, that is where insults are usually received....and yes, that IS my opinion. 

You may note and file it wherever you wish.  

 

[JDDavao II]

My wife once stayed with a pleasant relative on a pleasant tourist island here. The relative owed money to every sari-sari store within a mile of their house. The relative finally had to borrow money from four or five people to pay her debt at one store so that she could go into debt again. I've no idea if or how she paid back those she borrowed from.

I guess businesses, like friends, are just "supposed to understand" ?

[hk blues]

It's strange and kind of contradictory that in a place where face is so important, people have no qualms about being in debt to friends, neighbours and families!  

My simple policy is that I lend small amounts but it's not a gift and I expect it to be paid back.  If not, as it's small, I will survive but no more loans to that person in future.  I haven't been let down yet but who knows.