Debt Collection Terms

noun the act of demanding payment or debt collection

adjective related to demanding payment or debt collection

• The company uses a dunning process to collect outstanding payments from customers.
• I received a dunning letter from the bank reminding me to pay my credit card bill.
• I hate when I get dunning emails from my landlord about rent.
• His constant dunning for attention was starting to annoy his friends.

adjective describing something that cannot be collected or recovered

• The company wrote off the uncollectible debt as a loss on their financial statements.
• The business decided to forget about the uncollectible payment and move on.
• They knew they wouldn't see a dime of that uncollectible money, so they cut their losses.
• The uncollectible debt weighed heavily on their balance sheet like a dark cloud.

verb to cancel or disregard something as unimportant or not worth pursuing

• The company had to write off a significant amount of debt in their financial statements.
• I had to write off that old car because it was too expensive to fix.
• I'm just going to write off that class because I know I failed the test.
• She decided to write off their friendship after he betrayed her trust.

noun a document acknowledging the payment of a debt

• The debtor provided an acquittance to confirm the debt had been paid in full.
• I got my friend to write me an acquittance for the money I owed him.
• I asked my buddy for an acquittance so I could prove I paid him back.
• Receiving her apology was like getting an emotional acquittance for all the hurt she caused.