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

INTRODUCTION

Good evening my able steemains in the house hope everyone is doing well and great,
Basically I will like to give out regard to @steem4nigeria for creating out this wonderful contest that is all about debt, basically for me debt is bad 😞,

WHAT IS DEBT? AND HOW DO YOU UNDERSTAND IT.

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Basically looking at the word debt you will no that it sounds somehow but In my own understanding I will say that it is the act of borrowing a sum of money that may be paid back or probably may not.

Putting my understanding to this word debt, I will say that it is when a company is in need of a sum of money that is huge for a project and the company can't afford the money, in this case they need to go for a loan or borrow from any company that has the amount the need at this point this loan is now what we call debt.

Well I'm sure this illustration has given us more light on What debt is all about.

HAVE YOU BEEN INDEBTED BEFORE? HOW DID YOU PAY BACK?

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Well yes I have found my self in this situation before, it all started when I wanted to purchase a new phone so I needed some funds to complete my Money because they price left it amount that period so I decided to borrow from my brother and bought the phone,

Then after some time I paid him back his money this was how I was indebted, and before I go in the debt I make sure that I have a source that will give me money to pay back.

For me I prefer borrowing from my siblings then outsiders reason is because they pressure of your siblings may not be the same pressure an outsider will use against you when he or she needs the money you borrowed.

HAVE YOU EVER REGRETTED HELPING SOMEONE DUE TO REPAYMENT APPROACH FROM PREVIOUS HELPERS? SHARE YOUR EXPERIENCE.

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Yes, it was when a friend of mine that was living in the same area with me had a problem with his bank, let me say he took a loan from the bank and the time for paying the money came but he had no money, so he decided to borrow from me and pay back to the bank, then as my friend I gave him the money.

Later run I told him to pay me back my money 🤑 then he was giving me excuses that his not with the money, he even said it just a little money, then from that day I decided not to borrow money to people or though not everyone of them are like that.

This was why I regretted helping someone because of my Last experience with my friend.

WHAT DO YOU THINK IS THE BEST WAY TO RETRIEVE DEBT?

For me in the case of retrieving debt, you need to add pressure to the person that is owning you,
When I mean by pressure is that u need to be open to the person that is owning meaning before giving out any of your money inform the person you need the money ugent, I think this will make them pay out there debt more fast.

DO YOU THINK PROBLEMATIC DEBT SHOULD BE FORFEITED FOR THE SAKE OF PEACE?

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For me I will say yes it should be forfeited, the reason why I should say yes is just because it can course damaging of something when I mean by damaging of something it simply means that if you are a hurt tempered person you may end up fighting with the person owning you, looking at this situation you may end up being injured and some many things may also occur.

Then at this point you need to avoid problematic debt for some reason best know to me or for the sake of peace.

Well this is all I can contribute on debt, so I will like to say that debet is a thing of situation or circumstance without this two words many people will not involve in debt,

Thanks for reading through this humble post I will also like to invite my friends to also participate on this great contest, @josepha,@goodbest and @ngoenyi