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  2. Bad debt - Wikipedia

    en.wikipedia.org/wiki/Bad_debt

    Bad debt in accounting is considered an expense. There are two methods to account for bad debt: Direct write off method (Non-GAAP): a receivable that is not considered collectible is charged directly to the income statement. [5] Allowance method (GAAP): an estimate is made at the end of each fiscal year of the amount of bad debt.

  3. Write-off - Wikipedia

    en.wikipedia.org/wiki/Write-off

    Similarly, banks write off bad debt that is declared non collectable (such as a loan on a defunct business, or a credit card due that is in default), removing it from their balance sheets. A reduction in the value of an asset or earnings by the amount of an expense or loss.

  4. Charge-off - Wikipedia

    en.wikipedia.org/wiki/Charge-off

    The purpose of making such a declaration is to help support a tax deduction for bad debts under Section 166 of the Internal Revenue Code. In that respect it is a form of write-off. Bad debts and even fraud are simply part of the cost of doing business. The charge-off, though, does not free the debtor of having to pay the debt.

  5. Good Debt and Bad Debt Differences: What You Should Know - AOL

    www.aol.com/good-debt-bad-debt-differences...

    Here’s a look at the differences between good and bad debt. Good Debt One sign of good debt is that it can be used to finance something that will offer a good return on the investment, according ...

  6. The Power of Debt: Why It Isn’t All Bad - AOL

    www.aol.com/power-debt-why-isn-t-210007073.html

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  7. 5 best debt consolidation options

    www.aol.com/finance/5-best-debt-consolidation...

    Cons. Does not address poor spending habits. A typical fee of 3 percent to 5 percent of the amount transferred on top of the balance. APR after the intro period is likely higher than other loans.

  8. Credit card debt - Wikipedia

    en.wikipedia.org/wiki/Credit_card_debt

    Consumers commonly pay off a large portion of their credit card debt in the first fiscal quarter of the year because this tends to be when people receive holiday bonuses and tax refunds. [9] Credit card debt tends to increase throughout the rest of the year. [3] Credit card debt is said [clarification needed] to be higher in industrialized ...

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