ChargeOff Financial Glossary

What is it? When your creditor elects to transfer a delinquent account to a category called bad debt or loss and turns the account over to a collection agency.

Finance Term Definition Added By: Ben

The ChargeOff definition has been viewed 3457 Time(s)!

Send To Friends!

If you'd like to send the ChargeOff definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of ChargeOff. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term Stock Symbol is A unique four- or five-letter symbol assigned to a Nasdaq security. If a fifth letter appears, it identifies the issue as other than a single issue of common stock or capital stock.

Financial Term Integrated Project is A new type of project in FP6 that comprises a coherent set of component actions which may vary in size and structure according to the tasks to be carried out, each dealing with different aspects of the research needed to achieve common overall objectives, and forming a coherent whole and implemented in close coordination

Financial Term Endowment mortgage is A type of mortgage where your payments cover the interest cost only. You need to take out an Endowment Policy to pay off the loan at the end of its term.

Financial Term Legal Dependent (of Applicant) is A biological or adopted child, or a person for whom the applicant has been appointed legal guardian, and for whom the applicant provides more than half support. In addition, a person who lives with and receives at least half support from the applicant and will continue to receive that support during the award year. For purposes of determining dependency status, a spouse is not considered a legal dependent.

Financial Term Minorities is When a company owns a minority shareholding in another company the accounts will show the proportion of net assets and profits which are attributable to the company rather than to the shareholders of the company with the majority shareholding.