Search results
Results from the WOW.Com Content Network
State defaults in the United States are instances of states within the United States defaulting on their debt. The last instance of such a default took place during the Great Depression , in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [ 1 ]
Mortgages that may be non-collectible can be written off as bad debt as well. However, they fall under a slightly different set of rules. As stated above, they can only be written off against tax capital, or income, but they are limited to a deduction of $3,000 per year. Any loss above that can be carried over to the following years at the same ...
Here's a primer on the debt ceiling and examples of the possible consequences if the United States is unable to pay its debts. MORE: From Social Security to travel: Everything to know about a ...
Grinath III, Arthur, John Joseph Wallis, and Richard Sylla. "Debt, default, and revenue structure: the American state debt crisis in the early 1840s." (NBER, 1997). online; Sylla, Richard, and John Joseph Wallis. "The anatomy of sovereign debt crises: Lessons from the American state defaults of the 1840s." Japan and the World Economy 10.3 (1998 ...
Sebelius (2012) that Congress conditioning a state's receipt of the entirety of its federal Medicaid funds on whether said state elected to expand its Medicaid program in accordance with the Patient Protection and Affordable Care Act was an unconstitutionally coercive use of Congress's spending power.
Removing bad debts from the ledger (Bad Debt Write-Offs). Setting credit limits. Setting credit terms beyond those within credit analysts' authority. Setting credit rating criteria. Setting and ensuring compliance with a corporate credit policy. Pursuing legal remedies for non-payers. Obtaining security interests where necessary.
Good debt is preferable because it builds value, but there are cases where bad debt is the best choice. For instance, using a loan to buy a reliable car to get you to and from work is a good use ...
An increase in the number of bankruptcy cases does not necessarily entail an increase in bad debt write-off rates for the economy as a whole. Bankruptcy statistics are also a trailing indicator. There is a time delay between financial difficulties and bankruptcy.