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Meaning of “charge off” in the English Dictionary

"charge off" in Business English

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charge off

phrasal verb with charge uk   us   /tʃɑːdʒ/ verb
FINANCE to consider as a ​loss a ​debt that will probably not be ​paid: The ​companycharged off $120 million ​worth of ​bad credit-card ​debt in the third ​quarter.

charge-offnoun [C]

uk   us  
FINANCE, ACCOUNTING a ​statement by a ​creditor (= someone who is ​owedmoney) that a ​debt will probably not be ​paid and is counted as a ​loss
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(Definition of charge off from the Cambridge Business English Dictionary © Cambridge University Press)
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“charge off” in Business English

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