• FirefoxInstall the new Firefox »
  •  
    Credit

    Question

    What does profit and loss write-off mean on a credit statement?
    a few seconds ago 1 Answer

    Best Answer

    P&L or profit & loss on lets say on a credit report means this is the portion your creditor submitted as a loss on their books. So let's say you owed $1000 but paid back $100 & had a balance still of $900 & then stopped paying & even after trying to send this amount to collection agents they still couldn't get you to pay, the amount the creditor will report on their own books & on your credit report is $900
    a few seconds ago

    Recommended Articles

     
     
     
     
    Yahoo Small Business Services