Writing off a resources does not remove the items from the library catalogue, it only allocates the status of 'W' and a current date to each resource.
If a resource has had a status of 'M' for more than 2 years you would assume that you will never see it again. Therefore, these resources can now be given the status of 'W'.
ALWAYS backup before you globally update any information. It is easier to restore from a backup than go through your entire collection and make manual changes.