charge-off
Uncollectible debt declaration
A charge-off is a debt that a creditor has declared unlikely to be collected, typically after 180 days of nonpayment.
The creditor writes the debt off their books as a loss for accounting purposes, but the debtor still owes the money: The charge-off will stay on your credit report for seven years.
Creditors often sell charged-off debts to collection agencies.
Unrecoverable money owed
- uncollectibleImpossible to claim payment
- allowanceFixed periodic payment
- provisionPreparatory supply or clause
- reserveSupply kept back
adjustment · impairment · write-down · receivable · financial statement · accrual · depreciation · amortization
Criminal or neglectful behavior
- nonpaymentFailure to settle debts
- arrearsOverdue financial obligations
- overduePast expected arrival
- defaultPreset standard option
defaulter · borrower · debtor · creditor · collection · recovery · repossession · foreclosure
Gathered set of items
- recoveryRegaining what was lost
- debt collectionPursuing owed payments
- settlementResolved dispute or colony
- repaymentGiving back what's owed
garnishment · judgment · litigation · collection agency · skip tracing · payment plan · negotiation · compromise
bad debt
Unrecoverable money owed
- uncollectibleImpossible to claim payment
- allowanceFixed periodic payment
- provisionPreparatory supply or clause
reserve · adjustment · impairment · write-down · receivable · financial statement · accrual · depreciation · amortization · balance sheet
delinquency
Criminal or neglectful behavior
- nonpaymentFailure to settle debts
- arrearsOverdue financial obligations
- overduePast expected arrival
default · defaulter · borrower · debtor · creditor · collection · recovery · repossession · foreclosure · bankruptcy
collection
Gathered set of items
- recoveryRegaining what was lost
- debt collectionPursuing owed payments
- settlementResolved dispute or colony
repayment · garnishment · judgment · litigation · collection agency · skip tracing · payment plan · negotiation · compromise · partial recovery
- debtdebt, creditor, owe, debtor, lender
- credit risksdefault, bankruptcy, late payments, bad debt, foreclosure
- credit scorescredit score, credit report, credit history, credit bureau, FICO score
- debt collectiondebt collection, garnishment, late payments, debt collector, delinquent accounts
- debt reliefdebt relief, debt forgiveness, debt settlement, debt cancellation, debt negotiation
- write-offsbad debt, tax deduction, capital loss, losses, loss
charge-offwrite-up
Documented account or review
recovery · collection · reinstatement · debt recovery · accrual
charge-offdebt recovery
Reclaiming unpaid obligations
collection · payoff · current account · good standing · cure
charge-offpayment
Fulfilling a financial obligation
collection · remittance · receipt · inflow
charge, discharge, charged, charges, charger, charging, discharged, recharge, overcharge