Sentences with phrase «as bad debt»

This particular tactic used to make up the difference in what should have been collected and what actually was collected is a heavy handed method of recovering what associations consider as bad debt.

So, that deficiency amount that the bank writes off on its books as a bad debt while it forecloses on the Florida home owner will see that Florida home owner moving forward to deal with a 2014 tax debt.

Ask them if they allow borrowers to use their contribution for paying off such things as bad debt or to settle judgments against the borrower.

5 $ 14,145 @ NA («written off as bad debt with the hopes of statute of limitation») not sure if that applies to private student loans

4 $ 37,116 @ NA («written off as bad debt with the hopes of statute of limitations») not sure if that applies to private student loans

Legal services written off as a bad debt or a case in which an attorney can not collect a fee do not qualify as pro bono.

You can not deduct the amount of the forgiveness as a bad debt business expense even if you did the work.

We end up spending money on collection agencies to try and get the rest of that payment back but usually it gets written off as bad debt.

You should watch your mailbox for a 1099 form if the debt is reported as a bad debt.

However, it's sad to know that college loans are now considered as bad debt to the extent that the nation's top financial newspaper is trying to find ways to avoid them.

You may owe income tax on that forgiven debt and it will be reported as a bad debt on your credit report for the next seven years.

Also keep in mind, if you do settle the debt the amount of debt forgiven by the creditor will be reported as a bad debt.

The part of the debt that was waived will appear as a bad debt on your credit report.

When an account is charged - off, it means that a creditor no longer expects to be repaid and writes off the account as a bad debt.

The theory is that creditors will eventually write off your debt as bad debt and take whatever they can get through the settlement company.

By skipping such ineffective, expensive and ethically challenged credit repair methods, your credit score will begin to forgive you as soon as the bad debt is resolved and all other accounts are being paid as agreed.

It does depend on the amount and the type of problem that is listed as bad debt.

In this case, for a number of reasons, their treatment's clearly preferable — $ 1.3 m of AREO revenue (which is contractually due) is recorded, but this amount's immediately written off as a bad debt provision in the P&L.

Also known as bad debt, charged - off account, charged - off balance, charged to loss, charged to profit and loss.

Oftentimes, creditors will settle for as little as 30 % of the amount of your balance due, and then simply write the rest of the account off as a bad debt.

When enough has accumulated, the debt settlement company will contact your creditors and attempt to get them to accept a much smaller amount, say 10 % to 50 % of the total you owe, and write the rest off as a bad debt.

Zombie debt involves collection agencies purchasing debts for pennies on the dollar that original creditors have long since written off as bad debt.

ABC LTD must write off the $ 10,000 receivable from XYZ LTD as bad debt.

Action of transferring accounts to a category deemed uncollectible, such as a bad debt or loss.

What the bank will do is somewhat speculative they may have written it off as bad debt already or have otherwise stopped actively persuading it.

Financial experts often cite consumer debt, including credit card debt and high cost pay day loans, as bad debt.

Their unpaid personal loans then become a contribution — it's no longer repayable — that can't be written off as a bad debt or used for a tax deduction, said Kappel.

This is known as bad debt and while LendingCrowd has a recovery system in place, you may not receive back all the money you invested.

The accounting allowed for a long time a lender to use as his bad debt provision his previous historical loss rate.

A false sense of security has prevailed over the last few years because the consumer debt service ratio (denoted by the red line) collapsed from 6 % to 5 % after the onset of the last recession, as bad debts were written off and interest rates collapsed.

[64] The Independent described the entity sold as the «detoxified arm» of the bank, while saying the taxpayers retained «responsibility for # 20bn of toxic assets such as bad debts and closed mortgages.»

What is self - reinforcing on the way up will be self - reinforcing on the way down, but with greater speed and ferocity, as bad debts have to be liquidated.

The decision whether certain debts would be described or categorised as bad debts or good debts will be taking out of accounting or business context.

Without that, the system will not reset properly as bad debts get cleared.

«These amounts provided for as bad debts are not written off, but continue to be monitored until collected or confirmed as uncollectible,» says a brief report on the issue to Convocation.

Not exact matches

As a licensed insolvency trustee firm, our practice is on the front lines of Canada's household debt binge and the bad personal finance habits that ensnare so many people.

The banking system has been weak for years as most institutions have failed to deal with the high level of bad debt in the wake of the financial crisis.

And while business travel in Western Europe has been on the slower side, as Spain, Italy, Portugal and Greece have struggled with crippling debt, the GBTA says the worst is over and expects business travel in those regions to begin picking up.

India, Brazil and China all expressed misgivings about the original bailout in 2010 and - on the basis of the debt sustainability analysis - will see the latest plan as throwing good money after bad.

United States lawmakers will probably prevent the worst from happening — as they did in the debt - ceiling crisis — but nothing is likely to occur before November.

As a couple, we are now living debt - free, only using credit cards for emergencies and paying them off in full, and I'm continuing to identify and break bad financial habits.

The geopolitical risks that have been swirling around the globe this year are as bad, or worse, than the prospect of Greece defaulting on its debt, and yet, the European debt crisis regularly pummelled markets.

Moody's rates the debt of 19 retailers, or 13.5 % of the retailers it covers, as «speculative, of poor standing and subject to very high credit risk» or worse.

As Valeant's problems got worse, leading to the ouster of its CEO and an aggressive turnaround plan that called for divesting assets to pay down debt, Addyi languished.

A DTI ratio of 50 % or higher is a bad sign to lenders, as it means you may have trouble paying back your debts (and thus may default on the unsecured loan you're applying for).

As you can see, although Alberta was the worst offender in terms of the discrepancy between how big the government predicted the deficit was going to be in fiscal 2013 ($ 882 million) and how big it expects it to be now ($ 3.9 billion), it is still the only province without net debt (that is the accumulated total of annual deficits, which, in turn, result from the government spending more than it generates in revenues every year).

It is so much easier to say, as the Conservatives do, that all deficits and debt are bad, than to argue that this is not the case.

Bad loans as a share of their total portfolio remains low, at less than 2.5 percent, but economists believe the figure understates the problem because banks often extend the payment dates for problem debt.

As if dealing with your student loan debt wasn't bad enough, all the confusing rules and terms around repayment just add insult to injury.

As always, once the consumption binge is over and the bad investments are made, the debt incurred to finance them still remains to be repaid.