Uncollectable

The adjective 'uncollectable' describes something, typically a debt, payment, or item, that cannot be obtained or recovered. This inability to collect arises from various factors, including the debtor's financial incapacity, legal restrictions, or the item's physical absence. The term suggests a loss or a failed attempt at recovery, implying a frustrating outcome for the creditor or the owner. It can apply to a wide range of things from financial claims to lost objects, and it emphasizes the impossibility of acquiring what is due or desired. Often, efforts may have been exhausted, proving to be a futile exercise with no prospects for retrieval.

Uncollectable meaning with examples

• The loan became uncollectable when the borrower declared bankruptcy, leaving the bank unable to recoup the funds. Despite aggressive collection attempts, the debt proved insurmountable. The company wrote off the sum as a bad debt, impacting its financial statements and reflecting the harsh realities of lending.
• Due to a devastating natural disaster, the outstanding rent payments from many tenants were rendered uncollectable. The property management company could no longer pursue legal action, understanding their financial hardships. This event resulted in significant revenue losses and forced them to reassess their rent collection strategies.
• The antique painting, stolen decades ago, was declared uncollectable when it was discovered to be destroyed. The police investigated multiple leads but, with no artifact recovered, its value as a treasure was reduced. The insurance claim was settled for the loss, yet, it can not replace the work of art.
• After repeated attempts at recovery, the outstanding invoice for services rendered to the dissolved corporation was deemed uncollectable. The lawyer informed us that there were no remaining assets. It illustrated the risks associated with dealing with companies of questionable financial stability and bad debtors.