The charge-off rate (uncollectible balances) is also slowly declining, but still remains high.

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It is full of compelling evidence Snipes personally advocated numerous theories that the income tax was invalid and uncollectible.

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For instance, AmEx's uncollectible U.S. card balances totaled an annual rate of 6.3% in May, down from 6.7% in April, and J.

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This gives their deals more the flavor of collateralized lending, since the business getting the cash is on the hook for the loss if a receivable proves uncollectible.

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It includes old debts that are uncollectible due to the statute of limitations, those resolved in a bankruptcy and in some cases, debt that was the result of identity theft.

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It represents the very worst of the financial arrangements between West and East similar to the large West German credits extended in 1979 to the doomed Gierek regime in Poland that were uncollectible.

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Since Cuba owes billions of dollars to the former Soviet Union, to the Club of Paris, and to others, and has refused in the past to acknowledge or pay these debts, new loans will be wasted by Castro's inefficient and wasteful system, and will be uncollectible.

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