Written-off Loans | Prelims Preparation | UPSC CSE/IAS | Edukemy
A written-off loan is a loan that a lender has decided to remove from its balance sheet because it is no longer considered collectible. This usually happens when the borrower has defaulted on the loan, and the lender has exhausted all avenues of recovery, including legal action.
When a loan is written off, the lender typically takes a loss on the loan and writes off the outstanding balance as a bad debt expense. This can have a negative impact on the lender's financial statements, as it reduces their assets and their net income.
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