Debt & Debt Consolidation : What Does Writing Off a Bad Debt Mean?

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Writing off a bad debt refers to a collector who discontinues his or her efforts to collect the debt and writes it off, which creates a tax disadvantage for the person who owed the money. Understand what a debt write-off is with advice from a licensed financial planner in this free video on personal finance.

Expert: William Rae
Contact: www.hbwfl.com
Bio: William Rae has been licensed in the insurance and financial fields for over 30 years.
Filmmaker: Christopher Rokosz

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