A phrase used when a person believes they are owed something (e.g. a
favor), and the
time for that repayment has come.
Often, the person(s) who the phrase is directed at is
unaware of the need for repayment.
Dennis & Sally: Hi Frank,
congrats on buying your new
condo! Can you believe it was only six months ago when you were helping us move into our own place?
Frank: Good point- It's time to fucking collect!