write off of debts by debtor
This query is : Resolved
21 February 2010
Sir,
Can a debtor write off his debts if his financial condition is not good?
Can a debtor write off his debts if his financial condition is not good?
21 February 2010
Dear Mayur
The clear cut answer is no. The debtors only write off when your clients have definite conclusive proof of bad debts for example liquidation of company, liquidation of firm, attachment of business by bank or government authority etc.
The clear cut answer is no. The debtors only write off when your clients have definite conclusive proof of bad debts for example liquidation of company, liquidation of firm, attachment of business by bank or government authority etc.
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