Profit and loss
Date: Fri, 02/08/2008 - 09:43
What does it mean when it a debt says it was written off as profit and loss? Does it go to a CA afterwards?
That is a charge off...it means that your debt has gone "bad" (1
That is a charge off...it means that your debt has gone "bad" (180+ days late); you still owe it and it is highly likely that it will end up in a CA's hands.
