Today, the majority of people make use of the terms ‘loan write off’ or ‘loan waive off‘ which are contradictory concepts of dealing with bad loans. Although these two sound similar, there are quite a few differences in the standard concepts. What is meant by the term ‘Loan write-off’? It is defined as the amount of loan that is written off by financial institutions. This is a usual practice implemented by banks to clean the balance sheet and obtain tax efficiency. Even though banks write off the unpaid amount, he/she…
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