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Bad debts in business
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[QUOTE="Jasz, post: 214920, member: 61772"] A bad debt is a type of business debt that the borrower has no intention of paying back. Bad debts can occur in many industries, but most common in business-to-business transactions. Businesses may have trouble receiving payment for products and services delivered when the client does not have adequate funds to pay for them. In this way, bad debts are similar to accounts receivable and trade credit. All three types of debt are unsecured, meaning that businesses cannot take legal action against clients to force payment if they do not want to pay their bills. Businesses have to pay for their debts. If the revenues coming in from a business aren't enough to pay for all of its expenses, the business has bad debts. Any debt that is past due or close to becoming past due is also considered a bad debt. Badger debts are problems for businesses because they can't bring in money and using them may affect a company's credit rating. A lot of people assume that bad debts only come from customers who don't pay, but businesses can also have bad debts if they loan money to people or organizations that can't pay it back. [/QUOTE]
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