Re: Need an answer please

Posted by observer (205.188.209.12) on November 29, 2002 at 08:24:59:

In Reply to: Need an answer please posted by krelza on November 28, 2002 at 23:47:00:

They are the same. Chargeoff is the correct term. This simply means that the creditor is informing regulators and shareholders that the chance of collecting this account is zero and it is being booked to p/l. It doesn't mean that collection activity will cease.

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