Definition: Debt write-off
European System of Accounts (ESA)
Reduction by a creditor in the balance sheet of the amount owed to it, usually when a creditor concludes that a debt obligation has little or no value, because the debt is not going to be paid; the debtor is bankrupt, has disappeared or cannot be realistically pursued for recoveries that would justify the various costs incurred.
Source:
Eurostat, "European System of National and Regional Accounts - ESA 2010", Luxembourg, 2013
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