"Profit & Loss Writeoff"?

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I recently pulled a copy of my credit report and noticed that on one of my accounts, it's noted as "Profit & Loss Writeoff". What does this mean?

2006-08-30 06:40:37 · 2 answers · asked by damali1971 1 in Business & Finance ➔ Credit

worst entry possible - means they couldn't collect and they just wrote off your debt.

2006-08-30 06:43:42 · answer #1 · answered by Norman 7 · 0⤊ 0⤋

It's an accounting term for a debt that was not paid.

2006-08-30 06:57:09 · answer #2 · answered by Christian93 5 · 0⤊ 0⤋