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Bad Debt
(redirected from Bad debts)

    Also found in: Dictionary/thesaurus, Medical, Legal, Wikipedia, Hutchinson 0.07 sec.
Bad Debt
A debt that is not collectable and therefore worthless to the creditor.

Notes:
Bad personal debts generally aren't deductible.

Bad debt
A debt that is written off and deemed uncollectible.
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1933), addressed the specific charge-off requirement and noted that Congressional intent was to allow a deduction for business bad debts in the year in which ascertained worthless, provided there was "some specific act of the taxpayer clearly indicating their abandonment as assets.
The bad-debt reserve: opportunity for partial current deduction by Randolph, David W. / The Tax Adviser
Brazilian farmers realize this, but their options are limited this year by mountains of bad debts.
Investment in 2006-07 Brazilian crop declining by Pro Farmer
Keep in mind that bad debts don't disappear from your credit once they have been paid.
Beware of credit card offers. ($s and sense) by Brown, Carolyn M. / Black Enterprise
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