write-off

(redirected from Charge-Off)
Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.

write-off

Informal something damaged beyond repair, esp a car
References in periodicals archive ?
In the case of consumer loans, banks generally follow a uniform charge-off policy set by the banks' regulators: open-end credit (such as a home equity line of credit) is written off at 180 days delinquency, and closed-end credit (such as an auto loan) is written off at 120 days delinquency.
And more importantly, a charge-off could cause a lender to deny you credit or a loan.
For the period 2001 to 2006, data show an average charge-off rate of 5.
166-1(c)) is recoverable only in part, the IRS may allow the amount that has become worthless as a deduction only to the extent charged off during the tax year (specific charge-off method).
As filings fell, so should have charge-offs for credit card providers.
We realized our clients have a very real need for charge-off collection services, from a company that understands the Credit Union industry.
12, 2012 /PRNewswire/ -- TBF Financial announced it closed a $36 million portfolio of charge-offs in late November through a brokered transaction involving a bank with loans, lines of credit, and equipment leases it wanted to sell quickly.
Many people in the financial services industry believe charge-offs have been the leading factor in declining credit card debt since the start of the recession," said Ezra Becker, vice president of research and consulting in TransUnion's financial services business unit.
First things first, It takes at least seven years for a charge-off to be removed from your credit report.
Importantly, the six-month lagged charge-off rate, which is an indicator of future charge-off trends, improved in March to 10.
A charge-off enables the firm that you owe to get a tax break by claiming a loss; it doesn't exonerate you from the debt.
166 regulations generally are the same as temporary regulations issued in June 1996, which provided a deemed charge-off for modified debt in certain circumstances.

Full browser ?