{"id":69252,"date":"2018-06-21T13:57:25","date_gmt":"2018-06-21T11:57:25","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/debt-write-off\/"},"modified":"2026-01-14T23:14:17","modified_gmt":"2026-01-14T22:14:17","slug":"debt-write-off","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/debt-write-off\/","title":{"rendered":"Debt write-off"},"content":{"rendered":"\n<p>A <strong> <a href=\"https:\/\/tcm.be\/en\/debt\/\">debt<\/a> is written off<\/strong> by a <a href=\"https:\/\/tcm.be\/en\/creditor-definition\/\"><strong>creditor<\/strong><\/a> when they carry out an accounting operation that eliminates this <strong>debt<\/strong> from the accounts <strong>receivable<\/strong> . It means that the creditor considers the debt as lost and the corresponding sale will also be removed from their profits.<br><br>However, this does not mean that the <strong>debt<\/strong> no longer exists, as the debtor still owes the amount in question. If the debt was unjustified in the first place, a credit note must be drawn up.<br><br>When it comes to <strong>debt recovery<\/strong> , the <strong> write-off <\/strong>of a <strong>debt<\/strong> has no established significance. Some consider it the signal for a payment plan, i.e. repayment via regular fixed instalments.<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69252","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}