Debts are a fact of life and reality of business. Many going concerns must deal with debt from time to time, and there is often the need to manage debt portfolio especially by lenders (banks/financial institutions). Most times, success in dealing with debt is what separates thriving companies from ailing ones. A company must ensure it pays its debts in due time, otherwise, it would be at risk in varied ways. On the other hand, a company must have good recovery on its receivables in order to stay afloat. The proper time to plan how to recover
a debt is before or at the time the lending transaction occurs. Whilst Deposit Money Banks (DMBs) ought to always maintain a long term perspective, a company ought to properly plan how to repay a loan before taking it.
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