Charged off definition

Charged off shall have a meaning correlative thereto.

Charged off means an account that has been identified by the creditor as an uncollectable debt.

Charged off means a debt that a creditor has written off as a loss, but that is still subject to collection ac- tion.

Examples of Charged off in a sentence

• Notwithstanding the standard of care specified in Section 3.02, the Servicer shall commence procedures for the repossession of any Manufactured Home or the foreclosure upon any Mortgaged Property with respect to a Contract, and to liquidate such Manufactured Home or Mortgaged Property, as soon as commercially reasonably practicable after the time when such Contract becomes a Charged off Contract (or sooner in the Servicer's reasonable judgment).

• For Dispositions not within the 90 day lag (as listed in FAQ 46), a zero or missing Net Sale Proceeds may be explained by Charged off loans (i.e., Zero Balance Code type of Foreclosure Alternative = 03), or REO dispositions (i.e., Zero Balance Code =09) in which proceeds from the counterparties (Seller/Servicers) come through Non-MIRecoveries.

• Securitization Value Percentage(1) 0 - 30 days 31 - 60 days 61 - 90 days 91 - 120 days Total Lease Terminations Current Period Cumulative Retained vehicles by lessee Early terminations Standard terminations Total retained by lessee Returned Vehicles Early terminations Standard terminations Total returned to dealer Charged off leases / Repossessed vehicles Repurchases Other Total terminations Lease Extensions/Deferments Current Period Number of Leases Agg.

• Securitization Value Percentage(1) 0 - 30 days 31 - 60 days 61 - 90 days over 90 days Total Lease Terminations Current Period Cumulative Retained vehicles by lessee Early terminations Standard terminations Total retained by lessee Returned Vehicles Early terminations Standard terminations Total returned to dealer Charged off leases / Repossessed vehicles Repurchases Other Total terminations Net Credit (Gain) Loss Current Period Cumulative Agg.

• Securitization Value Percentage(1) 0 - 30 days 31 - 60 days 61 - 90 days 91 - 120 days Total Lease Terminations Current Period Cumulative Retained vehicles by lessee Early terminations Standard terminations Total retained by xxxxxx Returned Vehicles Early terminations Standard terminations Total returned to dealer Charged off leases / Repossessed vehicles Repurchases Other Total terminations Lease Extensions/Deferments Current Period Number of Leases Agg.

More Definitions of Charged off

Charged off means a debt that a creditor has written off as a loss, but that is still subject to collection action.

Charged off means a Loan on which there have not been any payments made for at least 180 days, if any payments had been due during such period.

Charged off and “Charge-Off” refer to Accounts treated by Chase as a loss or expense because Chase has determined that, under the Federal Financial Institutions Examination Council’s Final Notice of Uniform Retail Credit Classification and Account Management Policy, 65 Fed. Reg. 36903 (June 12, 2000), or other relevant guidelines, repayment of the Debt is unlikely.

Charged off means, for purposes of

Charged off when used in reference to Receivables, means the cumulative Principal Balance of an account or accounts written off, net of recoveries.

Charged off has a corresponding meaning.

Charged off. Loan” in Section 1.01 of the Sale and Servicing Agreement is hereby amended and supplemented by adding the following to the end thereof: “; provided that, with respect to any Alarm Service Loan, any such determination shall be made from and after March 31, 2003.”