Quote:
Originally Posted by Rybar
I understand, my father used to own a large sofa factory and he did this all the time with certain slow payers. As soon as they were put on credit hold the payment came in and then the orders were released.
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That's certainly one way to deal with things, but that's not the way I want to do business. I want to respect and enjoy the relationships we have. This goes back to account diversification and if you can afford to drop those types of adversarial clients, all the better.
I have a friend who used to be a large client 3 years ago until his business went bad. He still owes me well into 6 figures (the reason I had to sell my last Camaro) but he has the willingness to pay and I expect I will get paid back every dime but it may take a few years. He has already paid 1/3 of the debt and is clawing his way back. Due to his willingness to pay, he stayed in business when most would have filed BK.
Good discussion here.