write-off

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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.
31 of the adjustment year and is the difference between (1) the tax basis of the eligible loans over (2) the statutory carrying value of the same items increased by any noncredit-related portion of any charge-off that may not be deducted under the IDD.
For the whole industry, charge-off rates peaked in the second quarter of last year to 10.
com)-- Amy Michalo-Rojas, president of ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, is warning that holiday spending could negate improvements in credit card charge-offs and delinquency rates.
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.
As filings fell, so should have charge-offs for credit card providers.
Such charge-off techniques often entail seizing and selling collateral property and forcing banks to shoulder the resultant losses -- the gulf between the book and market prices of the collateral.
A clarification that payments received after the applicable charge-off threshold, but before the end of the month in which the charge-off threshold is triggered, may be considered when determining if a charge-off remains appropriate.
According to Moody's Credit Card Credit Indexes at the end of 1999, the charge-off rate (which is the amount of bad loans written off as uncollectible, as an annualized percent of total credit card loans) in the fourth quarter of 1999 averaged 5.
The amount of the charge-off will equal the book value of the loan when the bank or its examiner believes the loan is likely to be a total loss.
We are backed by more than $5 billion in financial resources, we have a lean and very experienced management team able to recognize opportunity and act decisively, and we have the expertise to acquire commercial or consumer assets anywhere in the receivable lifecycle from origination through charge-off.

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