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    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

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