Uncollectible (Adjective)
Meaning
Not capable of being collected; "a bad (or uncollectible) debt".
Classification
All adjective clusters.
Examples
- The loan officer labeled the defaulted mortgage as uncollectible due to the borrower's poor credit history and lack of assets.
- The debt collection agency categorized the unpaid bills as uncollectible because the client had declared bankruptcy and was under protection from creditors.
- The investor's losses on the defaulted bond were written off as an uncollectible loss due to the insolvent state of the issuer.
- After months of failed attempts to contact the debtor, the outstanding amount was deemed uncollectible and removed from the company's ledger.
- As a result of the borrower's sudden relocation abroad without leaving a forwarding address, the debt was declared uncollectible by the lender.