adjective describing something that cannot be collected or recovered
In finance, the term 'uncollectible' refers to debts or accounts receivable that are unlikely to be paid by the debtor. This can result in a loss for the creditor.
In legal contexts, 'uncollectible' may refer to debts that are unenforceable due to statute of limitations, bankruptcy, or other legal reasons.
In accounting, 'uncollectible' accounts are typically written off as bad debts, meaning they are removed from the accounts receivable balance.
In credit management, identifying and managing uncollectible debts is crucial to maintaining a healthy cash flow and minimizing losses.
In the publishing industry, 'uncollectible' may refer to unpaid royalties or advances on book sales.
In the field of psychology, 'uncollectible' may be used to describe debts owed by clients for services rendered.
In accounting, 'uncollectible' typically refers to debts that are deemed impossible to recover.
In debt collection, 'uncollectible' may refer to accounts that are unlikely to be paid back by the debtor.
For insurance adjusters, 'uncollectible' could pertain to claims that are denied or deemed unpayable.
In legal contexts, 'uncollectible' may be used to describe judgments or settlements that are difficult to enforce.
For business owners, 'uncollectible' may refer to bad debts or unpaid invoices from customers.
In tax preparation, 'uncollectible' may relate to uncollectible taxes owed by individuals or businesses.