Sentences with phrase «uncollectible due»
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.
https://rebuildcreditscores.com/ Not exact matches
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.
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.
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.
An account that is uncollectible is one that has no chance of being paid off due to the fact that the borrower filed for bankruptcy or can not be located.
Zombie debts include debts that are either legally uncollectible, already paid off, already discharged in bankruptcy, possibly no longer legally collectible due to the statue of limitations, etc....
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.
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.