Meaning of debt In English

• 0 something, especially money, that is owed to someone else, or the state of owing something:

  • He managed to pay off his debts in two years.

  • The company ran up huge debts.

  • They are in debt to (= owe money to) the bank.

  • He got into debt (= borrowed money) after he lost his job.

  • The company is deep in debt (= owes a lot of money).

• 1 something owed, esp. money:

  • He managed to pay off his debts in two years.

  • We seem to be perpetually in debt.

• 2 the amount of money that is owed by a person, company, country, etc. and that they usually have to pay interest on:

  • Financing will consist of $200 million of debt in the form of a five-year term loan.

  • Companies become insolvent because they cannot pay their debts.

  • amass/incur/run up a debt of Investors fear the insurance company will have amassed debts of more than €22.5 million by the end of the year.

  • repay/pay off/clear a debt When applying for a loan, customers may be required to prove their ability to repay the debt.

  • settle/resolve/retire a debt The country's foreign exchange reserves were adequate to settle the entire debt this year.

  • cut/pay down/reduce a debt Our credit counselors will work with you to help you to reduce your debt.

  • refinance/reschedule/restructure a debt The plan also includes restructuring of long-term debts at lower interest rates.

  • write off/cancel a debt State law allows cities to write off uncollectable debts with the approval of the city council.

  • If the market does not improve, these businesses may not be able to service their debts, and we may see more bankruptcies.

  • This arrangement is useful for those who need to consolidate their debts .

  • be burdened/saddled with debt(s) Young college graduates are saddled with crippling debts.

• 3 the situation of owing money, or of not having enough money to pay what you owe:

  • consumer/corporate/federal debt Consumer debt is high, with record-level defaults on credit cards and mortgage loans.

  • Now solvent, the conglomerate was $14 billion in debt when Jones took over as the new CEO.

  • fall/get/go into debt With college tuition and housing prices rising, more and more families are falling into debt.

  • get/keep/stay out of debt By setting up a debt repayment plan he was able to pay off his creditors and stay out of debt for good.