Charge-off Policy – 19 Pages – 4500 Words

The policy sets forth guidelines for identifying, monitoring, and writing off uncollectible accounts receivable as bad debts, aiming to maintain financial reporting integrity and comply with accounting and regulatory standards. It applies to all receivables and credit products managed by the company, with the governance overseen by the Board of Directors and enforced by the Compliance Department. The policy outlines detailed processes for identifying uncollectible accounts, the charge-off approval process, accounting and reporting of charge-offs, and post charge-off recovery efforts, ensuring adherence to regulatory compliance and ethical standards.