3rd winding up order due

[Firestorm]

Although the debt is written off by his companies the amount is still outstanding, all that written off means is that it is uneconomical to pursue the debt. There are lots of debt collection agencies that purchase written off debts from companies and chase them for payment, i used to work for one.

The debt is not outstanding eith either set of accounts , and as per my earlier post , does not appear to have been charged in recent years .

There is a difference between writing off a debt and transferreing it to a debt recovery company.

When a debt is written off it is taken out of the assets of the company , when it is transferred to a debt recovery company it is , effectively , sold, with amount realised by the sale being offset against the bad debt and the net balance is then written off.

Unless its an agreed write off, then , as you say, one of the companies (normally the owing company) will be showing the balance in their accounts. In the case of the rent , neither company (SUFC or SEL) are showing the balance as outstanding

 

[OldBlueLady]

There is a difference between writing off a dad and transferreing it to a debt recovery company.

That's a bit harsh Firestorm!

 

[Gremlin]

There is a difference between writing off a dad and transferreing it to a debt recovery company.

Why am I thinking of Dwight Yorke here?