Sentences with word «uncollectible»

Debt validation can dispute your debts, potentially turning them into legally uncollectible debts.

A legally uncollectible debt is one — you may not have to pay.

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

Handled the reduction of uncollectible accounts receivable while maximizing revenue by implementing an accurate billing system for service rendered.

Go for the installment agreement if you're able, get deemed uncollectible again or, if it looks like your dire straits will continue unchecked forever, consider an offer in compromise.

F Value; Credit for Uncollectible Amounts and Assignment Thereof; Contingent Fee Matters.

Debt buyers purchase charged - off, often uncollectible out of statute of limitations debts for pennies on the dollar.

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.

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.

Charge - off When a debt is considered uncollectible and is removed from active accounts, and when the balance due is removed from the record of the creditor's assets.

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

A: Yes, you should consider other options before trying to be declared uncollectible because a Currently Not Collectible Status or IRS hardship generally comes with a tax lien.

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

The unit in Ghana has declared losses over the last three years and has uncollectible trade debts due to tough economic conditions and a currency devaluation in the cocoa - rich country.

· The county has not made an allowance for uncollectible taxes in 2013.

Banks and other credit issuing institutions often sell uncollectible debt to collection agencies, which then contact the debtor with attempts to collect the money.

If you truly don't have enough money to pay anything, you can ask the IRS to label your account as temporarily uncollectible.

The debt buying industry continues to grow and often the debts they are collecting are erroneous and uncollectible by law.

If you have unpaid debts you may want to stay invisible to the credit reporting agencies until those debts are either paid or become uncollectible due to Statute of Limitations.

Charge - offs provide a method for credit card issuers to remove uncollectible accounts from their books, and the process typically occurs after a credit card account becomes 180 days delinquent.

That can include payment plans on the full balance, Partial Payment Installment Agreements (PPIA), Offers in Compromise (OIC), extension requests, or even establishing uncollectible status.

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.

Expiration dates fuzzy on old card debt — Card issuers» rules and conflicting legal rulings laws make it tough to tell when a consumer's debt ages past the statute of limitations... (See Uncollectible debt)

The billing attorney has a great reluctance to aggressively pursue any of his or her own uncollectible accounts.

For instance, you might win a judgment but find it is uncollectible if the losing party has no money or insurance to pay.

Collection realization rates are often overstated because lawyers tend to leave uncollectible receivables in the system for an unrealistic time period, rather than admit the money will never be collected.

Obtained more than $ 600,000 for client on previously deemed uncollectible judgment.

The new Convention aims to resolve the problems of unpaid or uncollectible child support and the problems of costly, complicated, slow and under - utilized international procedures.

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?

When a debt collection company is asked to provide certain documentation and accurate information (examples: their debt collector license to collect on debt in a certain state or accounting statements) and they CA N'T PROVIDE the requested items or if they provide inaccurate information, the debt becomes legally uncollectible and you don't have to pay it!

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

Bankruptcies or consolidations of our large retail customers could seriously hurt our business, due to uncollectible accounts receivables and the concentration of purchasing power among the remaining large retailers.

Its latest performance report suggested that # 3.5 billion of child support debt remains uncollected, and almost # 2 billion of this was deemed «probably uncollectible».

Loss: An asset, or portion thereof, classified Loss is considered uncollectible, and of such little value that its continuance on the books is not warranted.

Some of the debt has long been written off and often uncollectible.

A legally uncollectible debt is one that you don't have to pay.

If it decides you can not afford an installment agreement, it may deem you uncollectible.

The negative consequences of pushing more debt on households is also obvious: more loans become uncollectible and go into default, creating more loan losses for banks.

«If your circumstances are dire and the IRS agrees, the IRS may deem you «uncollectible» and put you in a status where your bill is not paid but they will not attempt to collect,» she said.

Eager for sales, Graff extended credit to all comers and lost more than 20 % of sales to uncollectible accounts.

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.

The debt becomes 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.»