write-off

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write-off

Informal something damaged beyond repair, esp a car
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The "Credit Card Charge-Off Collections Takes Brains not Brawn" report has been added to ResearchAndMarkets.com's offering.
He highlighted the decline in the company's net charge-off ratio as an important development in the quarter.
Current ratings for class A, class B and class C (charge-off steady state: 6.50%; MPR steady state: 38%): 'AAAsf'; 'Asf'; 'BBBsf';
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.
* Throughout the credit crunch and recession and into 2012, commercial and multifamily mortgages had the lowest charge-off rates of any type of loan held by commercial banks and thrifts.
166(a)(2) deduction will generally be equal to the company's SSAP 43R credit-related impairment charge-offs for the same items, except that the company increases or reduces its deduction by a positive or negative adjustment.
"Charge-off rates just reached their highest levels in decades," she said.
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 5.9 percent for all SBA loans in comparable industries and a slightly higher average charge-off rate of 6.5 percent for loans identified as franchise related.
DiGennaro said GE Consumer Finance will not be able to determine if it can to pass charge-off reduction related savings to consumers "until we see a [longer term] trend line from bankruptcy reductions." He added that a reduction in consumer bankruptcies does not necessarily imply a decrease in credit card charge-offs.
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.

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