Bad debt refers to an amount owed by a debtor that is unlikely to be paid and is written off as a loss by the creditor.

• Bad debt is a financial loss for the creditor

• It occurs when a debtor fails to pay...read more

Bad debt refers to loans or outstanding balances owed that are no longer deemed recoverable and must be written off. Incurring bad debt is part of the cost of doing business with customers, as there i...read more

Bad debt refers to money that a lender or creditor is owed but is unlikely to be paid back by the borrower, leading to financial loss for the creditor.