charge off

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charge off

1. To move hastily from a particular place or thing. We charged off when we heard the sirens approaching. After a few minutes of painting, the kids charged off to the next activity station at the birthday party.
2. To pay for something from a specific account or category of funds. In this usage, a noun or pronoun is often used between "charge" and "off." When you're traveling, just charge everything off your company account. A: "Will I get reimbursed if I charge this plane ticket off my personal bank account?" B: "You can just charge it off petty cash."
3. To attribute something to something else (which is stated after "to"). They're a very young team, so we'll charge off this loss to inexperience and nerves.
See also: charge, off

charge off

to move quickly or run away. He got angry and charged off. Juan charged off to talk to the boss.
See also: charge, off

charge off

1. Hurriedly depart, run away, as in After a few minutes, she charged off to the next exhibit. This term alludes to the military meaning of charge, "attack impetuously." [Early 1500s]
2. Also, charge against. Consider or count as an accounting loss or expense, as in I'm charging off this purchase to overhead, or Let's charge the new computer against office supplies. [Late 1800s] Also see write off.
3. Attribute to, blame something for, as in We can charge off these errors to inexperience.
See also: charge, off
References in periodicals archive ?
In 2012, banks and thrifts charged off 0.55 percent of their balance of commercial mortgages and 0.32 percent of their multifamily mortgages, compared with charge-off rates of 0.84 percent and 0.74 percent, respectively, in 2011.
At its worst, in 2010, 3.92% of the credit union's loans, worth 2.94% of its assets, were delinquent and 2.04% of its average loans charged off. The numbers dropped in 2011 and then again last year, to where 2012 ended with 2.12% of the credit union's loans, or 1.40% of its assets, delinquent and 1.46% of its average loans charged off, according to NCUA records.
166(a)(2) if the amount deducted matches the amount of credit-related impairment charged off by the insurance company under National Association of Insurance Commissioners (NAIC) Statement of Statutory Accounting Principles (SSAP) 43R for eligible loans as reported on the company's annual statement.
of Conway, the publicly traded parent of Centennail Bank, announced last week that it had recouped $4.4 million of the $53 million in bad loans it charged off in the fourth quarter of 2010.
Due to an increase in volume in bankruptcies, Capital One had extended the processing time so that bankrupt accounts are charged off within 30 days, instead of the previous 2 to 3 day processing time.
A charged off account is a past due balance, usually 6 months old or more, that a lender counts as a business loss.
(The charge-off rate equals dollars charged off divided by the total dollars disbursed.
During fiscal year 2001, 1,200 of the over 4,200 Army account holders who had written at least one nonsufficient funds (NSF) check to pay their travel card bill had their accounts charged off. In the same period, more than 200 cardholders whose accounts were eventually charged off may have also committed bank fraud by writing three or more NSF checks to the Bank of America.
* A current assessment of value to be made no later than 180 days past the contractual due date for loans secured by real estate (any loan balance exceeding the property's value, less selling costs, is to be classified as a loss and charged off)
Canyon State's charge-offs in 2012 are currently down 50% from 2011, and 2011's numbers were half of what was charged off in 2010, he said.
The amount charged off is carried through the institution's books and results in a reduction in the balance of loans outstanding and--because the loan was delinquent--a commensurate reduction in the balance of delinquent loans.
1.166-1(c)) is recoverable only in part, the IRS may allow the amount that has become worthless as a deduction only to the extent charged off during the tax year (specific charge-off method).
But the filings also showed that the volume of card balances being charged off remained high for all the card brands.
Under the regulations, a taxpayer is deemed to have charged off a modified debt if: (1) the debt was significantly modified during the tax year and the modification resulted in gain recognition by the taxpayer under Regs.
Essentially, a bank may do so f a sufficient amount of a restructed loan has been charged off and the borrower's prospects and recent payment experience indicate an ability to perform under the restructed agreement.