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A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. [ 1][ 2][ 3] A business will sometimes factor its receivable assets to meet its present and immediate cash needs. [ 4][ 5] Forfaiting is a factoring arrangement ...
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance ...
In economics, the rate of interest is the price of credit, and it plays the role of the cost of capital. In a free market economy, interest rates are subject to the law of supply and demand of the money supply , and one explanation of the tendency of interest rates to be generally greater than zero is the scarcity of loanable funds .
Balance of payments. In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world. In other ...
Credit card charge offs are on the rise in recent months. On the contrary, a credit card charge off means you are more than 180 days late on your payment and the credit issuer considers the debt ...
Much of the credit for the resolution of the stagflation is given to two causes: renewed focus on increasing productivity [13] and a three-year contraction of the money supply by the Federal Reserve Board under Paul Volcker. [14] In stating that his intention was to lower taxes, Reagan's approach was a departure from his immediate predecessors.
v. t. e. In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor ), at maturity; those in a state of insolvency are said to be insolvent. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed ...