Dear sir/ Madam,
What is OTS/ written off/ Black list Accounts?
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About OTS/ written off/ Black list Account
Replies (1)
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OTS: A negotiated, discounted "full and final" settlement of a debt.
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Written Off: An accounting move by the bank declaring a debt unlikely to be recovered; it remains a liability for the borrower and stays on your credit report as a negative record.
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Blacklist: A security/compliance measure used to block individuals or accounts associated with fraud, illegal activity, or high-risk behavior.
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