Negative Write-offs
A negative write-off refers to the decision not to pay back an individual or organization that has overpaid on an account. Negative write-offs can sometimes be seen as fraudulent activity if those who overpay a claim or bill are not informed that they have overpaid and are not given any chance to reconcile their overpayment or be refunded.
Some institutions such as banks, hospitals, universities, and other large organizations regularly perform negative write-offs, especially when the amount is considered low dollar, e.g. $5.00 at some places or up to $15.00 or more at others.
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Famous quotes containing the word negative:
“Our role is to support anything positive in black life and destroy anything negative that touches it. You have no other reason for being. I don’t understand art for art’s sake. Art is the guts of the people.”
—Elma Lewis (b. 1921)