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Credit sales are all sales made on credit (i.e. excluding cash sales). A long debtors collection period is an indication of slow or late payments by debtors. The multiplier may be changed to 12 (for months) or 52 (for weeks) if appropriate.
Average debtor collection period = Trade receivables / Credit sales × 365 = Average collection period in days, [5] Average creditor payment period = Trade payables / Credit purchases × 365 = Average Payment period in days, [ 6 ]
The amount of payment and period of the repayment plan depend upon a variety of factors, including the value of the debtor's property and the amount of a debtor's income and expenses. [61] Under this chapter, the debtor can propose a repayment plan in which to pay creditors over three to five years.
A credit record is a record of the credit history of a person or business entity, potentially including payment history, default and bankruptcy. Information about debts, late payments and default may be placed by a borrower's credit record, and usually remain for several years. Reports to credit reporting agencies may not necessarily be ...
Debtor days can also be referred to as debtor collection period. Another common ratio is the creditors days ratio. Definition = or = ...
A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off.