bad debt relief

bad debt relief
Relief from VAT on bad debts. A claim may be made if supplies to a customer have been made and no payment has been received. HM Customs & Revenue Glossary

Financial and business terms. 2012.

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  • Debt relief — is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and… …   Wikipedia

  • Bad debt — A bad debt is an amount that is written off by the business as a loss to the business and classified as an expense because the debt owed to the business is unable to be collected, and all reasonable efforts have been exhausted to collect the… …   Wikipedia

  • relief — re‧lief [rɪˈliːf] noun 1. [uncountable] when a bad situation is reduced or stops for a time: • Any sign of relief from price pressures will be welcome news for the economy. 2. money, food, clothes etc given to people who are poor or hungry: • a… …   Financial and business terms

  • Debt settlement — Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.[1] Debt settlement is… …   Wikipedia

  • Debt restructuring — is a process that allows a private or public company – or a sovereign entity – facing cash flow problems and financial distress, to reduce and renegotiate its delinquent debts in order to improve or restore liquidity and rehabilitate so that it… …   Wikipedia

  • Debt evasion — is the intentional act of trying to avoid attempts by creditors to collect or pursue one s debt. At an elementary level, this includes the refusal to answer one s phone by screening one s calls or by ignoring mailed notices informing the debtor… …   Wikipedia

  • Debt of developing countries — The debt of developing countries is external debt incurred by governments of developing countries, generally in quantities beyond the governments political ability to repay. Unpayable debt is a term used to describe external debt when the… …   Wikipedia

  • Debt — For other uses, see Debt (disambiguation). Personal finance Credit and debt Pawnbroker Student loan Employment contract …   Wikipedia

  • Debt buyer — A debt buyer is a company, sometimes a collection agency or a private debt collection law firm, that purchases delinquent or charged off debts from a creditor for a fraction of the face value of the debt. The debt buyer can then collect on its… …   Wikipedia

  • debt — noun 1 sum of money owed ADJECTIVE ▪ big, crippling, enormous, heavy, high, huge, large, massive, substantial ▪ …   Collocations dictionary

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