charged off
charged off
This is an accounting term that means the creditor does not expect to collect on the debt. It relates to the creditor's taxes. It starts time periods under the Fair Credit Reporting Act. It does not mean that the debt is no longer legally enforceable. (Bankruptcy in Brief)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • off-the-clock — adj. Describes a work related task that is performed outside of normal office hours for no pay. Example Citation: In the already time poor day of many workers, a new pressure is building. Increasingly, companies are pushing off the clock work,… …   New words

  • off the hook — not charged with a crime, not obligated, let off    The police found the murderer, which lets Louis off the hook …   English idioms

  • off duty — not working. She goes off duty at midnight. The police officer was charged with robbing Castillo while he was off duty. Usage notes: usually said about soldiers, police, medical workers, and people who work a scheduled period of time …   New idioms dictionary

  • off the books — Book Book (b[oo^]k), n. [OE. book, bok, AS. b[=o]c; akin to Goth. b[=o]ka a letter, in pl. book, writing, Icel. b[=o]k, Sw. bok, Dan. bog, OS. b[=o]k, D. boek, OHG. puoh, G. buch; and fr. AS. b[=o]c, b[=e]ce, beech; because the ancient Saxons and …   The Collaborative International Dictionary of English

  • off-peak — adjective During a period of less use or demand than the maximum (peak), generally overnight. Phone calls on weekdays between 18:00 and 08:00 the following day are charged at an off peak tariff, lower than peak, but higher than weekend …   Wiktionary

  • charge off — {v.} 1. To consider or record as a loss, especially in an account book. * /The store owner charged off all of the last season s stock of suits./ Syn.: WRITE OFF(1). 2. or[charge up] {informal} To accept or remember (something) as a mistake and… …   Dictionary of American idioms

  • charge off — {v.} 1. To consider or record as a loss, especially in an account book. * /The store owner charged off all of the last season s stock of suits./ Syn.: WRITE OFF(1). 2. or[charge up] {informal} To accept or remember (something) as a mistake and… …   Dictionary of American idioms

  • charge\ off — v 1. To consider or record as a loss, especially in an account book. The store owner charged off all of the last season s stock of suits. Syn.: write off(1) 2. • charge up informal To accept or remember (smth) as a mistake and not worry about it… …   Словарь американских идиом

  • Charge-off — A charge off or chargeoff is the declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors will make… …   Wikipedia

  • Net Charge-Off Rate — The dollar amount representing the difference between gross charge offs and any subsequent recoveries of delinquent debt. The net charge off is often a percentage representing that amount of debt that a company believes it will never collect… …   Investment dictionary

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