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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 .
Second, medical roots generally go together according to language, i.e., Greek prefixes occur with Greek suffixes and Latin prefixes with Latin suffixes. Although international scientific vocabulary is not stringent about segregating combining forms of different languages, it is advisable when coining new words not to mix different lingual roots.
A medical dictionary is a lexicon for words used in medicine. The four major medical dictionaries in the United States are Mosby's Dictionary of Medicine, Nursing & Health Professions, Stedman's, Taber's, and Dorland's. Other significant medical dictionaries are distributed by Elsevier. Dictionaries often have multiple versions, with content ...
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 ...
A car loan charge-off occurs when a lender moves an auto loan during accounting from the asset category to the liability category. Lenders charge off an auto loan when the borrower stops making ...
Common types of debt owed by individuals and households include mortgage loans, car loans, credit card debt, and income taxes. For individuals, debt is a means of using anticipated income and future purchasing power in the present before it has actually been earned. Commonly, people in industrialized nations use consumer debt to purchase houses ...
e. In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent. [ 1]
t. e. Subrogation is the assumption by a third party (such as a second creditor or an insurance company) of another party's legal right to collect debts or damages. [ 1] It is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for their own benefit. [ 2]