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 withadvice from a licensed financial planner in this free video on personal finance. Expert: William Rae Bio: William Rae has been licensed in the insurance and financial fields for more than 30 years. Filmmaker: Christopher Rokosz...
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