Sentences with phrase «as uncollectible»

I have sucessfully written off a judgment before as uncollectible debt, do I need a judgment in this case?

The statute of limitations of breach of contract ran out this past December; I want to know can I write off the loss as uncollectible business debt this year, and could it carry over into future years?

«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.

Credit card bills are tagged as «charge - offs» when consumers repeatedly fail to pay their bills and banks write off the loans as uncollectible.

Credit card charge - offs — which measure the number of accounts that credit card issuers have written off as uncollectible — are also at historic lows, falling 23 percent since this time last year.

However, this is unusual because most debts get written off as uncollectible before that length of time.

Other legal actions may follow repossession, and a balance (referred to as a «deficiency balance») may be charged - off as uncollectible.

Charge - off is just an accounting term the company uses to show that the accounts have been written off as uncollectible.

Lenders wrote off as uncollectible $ 11.1 billion in home equity loans and $ 19.9 billion in home equity lines of credit in 2009, more than they wrote off on primary mortgages, government data shows.

When a creditor considers an account as being in charge - off status, they are essentially considering the debt as uncollectible so late in the game.

The decrease was the result of both higher levels of «chargeoffs» — debt that card issuers write off as uncollectible — compared to 2007 and lower new balances than in 2007.

Not exact matches

Its 1998 - 1999 accounts admitted that # 511.45 million was outstanding in child support debts and that a further # 387.57 million had been classified as probably uncollectible.

This type of agreement can lead to you paying less than you owe because as the collection statute expiration date (CSED) expires for each year you were assessed taxes, that debt becomes «uncollectible.»

They simply sell these debts at a reduced price (sometimes as low as 5 cents on the dollar), knowing that if challenged, the third - party debt collection company may lose money due to the debt being legally uncollectible.

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

That's because a charge - off is essentially a debt the creditor has recorded as «uncollectible» with the credit rating agencies.

At some point you could deem the rent uncollectible and deduct the expense as «bad debt expense».

Once you fall behind on a credit card payment by more than 4 - 6 months, the bank will write - off the debt as an «uncollectible debt.»

Other major credit problems, like a charge - off (bad credit that is written off as being «uncollectible»), will only appear for about seven years.

Debt Validation — a way to dispute debts — proving a debt to be legally uncollectible (as a bi-product of debt validation, third - party debt collection companies can be forced to remove the debts from a person's credit report if they can not validate the debt)

The specific charge - off method allows you to write off debts in full or in part as they become uncollectible.

On those facts, it sounds as if you may be uncollectible.

Robinson also embraces ironic signage such as a blue, round plaque titled Worth, 2010, which reads «uncollectible, unmarketable, incorruptible.»

This image from Reuters shows the slowdown — as well as the increasing number of past due loans out in the wild: In the fourth quarter of last year, $ 1.1 billion worth of auto loans were uncollectible.