charge off

Definition of "charge off"
  1. A term used when an amount of debt is recorded by a creditor as a loss or an expense
How to use "charge off" in a sentence
  1. After six months of missed payments, the credit card company decided to charge off the account.
  2. If the business cannot collect on the overdue invoice, it may decide to charge off the debt.
  3. The bank chose to charge off the delinquent loan after several attempts to collect the outstanding amount.

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