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debt Definition

debt (det)

noun

  1. something owed by one person to another or others
  2. an obligation or liability to pay or return something
  3. the condition of owing to be in debt
  4. Theol. a sin

Etymology: altered (after L) < ME & OFr dette < L debitum, neut. pp. of debere, to owe < de-, from + habere, to have: see habit

debt Synonyms

debt

n.

  1. That which is owed

    liability, obligation, mortgage, debit, score, pecuniary due, duty, arrears, deficit, note, bill, accounts outstanding, accounts collectible, debt of honor, encumbrance, commitment, outstandings, claim, indebtedness, arrearage, deferred payment, national debt, contingent liability, floating debt, funded debt, future debt, account, overdraft, amount due, red ink*, IOU*, chit*; see also lien, mortgage.

    Antonyms credit*, asset*, capital. *

  2. Capital covered by funded obligations

    outstanding issues, mortgages, bonds, shares, stocks, notes, securities, checks, debentures, indentures; see also money 1.

in debt

owing, liable, in the red, in arrears; see indebted.

debt Finance Definition
An obligation that a person or organization has to another person or organization. Debt may be in the form of a bond, note, mortgage, line of credit, or other financial instrument. Debt may be secured by assets, which means that the assets will be seized in the event of default, or be unsecured.
debt Law Definition

n

A specific sum of money due as a result of a written or verbal agreement or by operation of law.
debt Usage Examples

Preposition: of

  • gratitude: We offer here our public debt of gratitude to them for the work that they do to the church's great benefit.

Converse of object

  • owe: However, Ghosts actually owes a much bigger debt to his brilliant retelling of Rio Bravo, Assault on Precinct Thirteen.
  • repay: Whole villages are groaning under the pressure of debt For many, the only way to repay debts is to take out new ones.
  • incur: An " old " partner is fully responsible for debts incurred whilst he was a partner.
  • consolidate: Many consumers take out 2nd mortgage loans to consolidate debt, do home improvements or pay for their children's college education.
  • cancel: He canceled the debt, which listed all the rules we failed to follow.
  • recover: If a lender isnât licensed by the OFT then they have no legal right to recover the debt.

Adjective modifier

  • unpayable: The reality is that they are condemned to a lifetime of poverty overshadowed by an inescapable burden of unpayable debt.
  • unsecured: Single men & women, aged between 25 and 39, in the UK have average unsecured debts of nearly £ 13,000.. .
  • outstanding: Disputes Where a customer raises a query regarding an outstanding debt.
  • crippling: Countries agree to grow cash crops in order to pay off their crippling debts.
  • net: At the moment there is a net debt of three trillion dollars.
  • unpaid: But, if you can't pay the outstanding balance each month, the interest due on the unpaid debt can soon mount up.

Modifies a noun

  • consolidation: Secured debt consolidation loans are the ones, which pay off some or all of your existing debts.
  • relief: There he is expected to strike a similar debt relief pact.
  • cancelation: This is the largest debt cancelation ever seen in Africa.
  • repayment: What he has not done is to use the unexpected strength of the public finances to lock in a faster rate of debt repayment.
  • recovery: In 1997, the Group made an acquisition in the consumer debt recovery market.
  • burden: Productivity was receding in the face of a crushing debt burden.

Noun used with modifier

  • credit: I always took cash, to pay off the credit card debt.
debt Quotes

A national debt, if it is not excessive, will be to us a national blessing.

—Hamilton, Alexander

Among my friends love is a payment. It is an old debt for a borrowing foolishly spent.

—Dunbar,William

'Is there no more?' She cries.'All this to love, and rapture's due, Must we not paya debt to pleasure too?'

—Rochester,JohnWilmot, 2nd Earl of

   Apromisemadeisa debt unpaid,andthetrail hasits own stern code.

—Service, Robert William