Bad debt
Bad debt
Bad debt refers to funds owed to a creditor that aren't collectible. Debts are only classified as bad debt after all avenues of collection have been exhausted. From a business/balance sheet perspective, bad debt amounts are worthless, and usually written off. From a tax perspective, businesses and individuals are allowed to deduct bad debts under certain circumstances.
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| Loan Type | Today |
|---|---|
| 30 yr fixed |
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| 15 yr fixed |
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| 5/1 ARM | 3.99 |
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