How To Write-Off Debt

To write-off debt:

CAUTION: You don't have to do the tasks outlined below if you use the Write Off - Main page. This page does these tasks for you.

Create a write-off contract using the Start Service page (you could also use the contract page to do this).
Use the Transfer Adjustment process to transfer the delinquent debt to the to the write-off contract. The original contract is the transfer from contract; the write-off contract is the transfer to contract. The adjustment amount should be a negative number. Refer to Transfer Adjustments for more information.

CAUTION: Take care if you transfer debt from a contract that's on a budget. Before doing the transfer, you should make the contract's current balance equal their payoff balance.