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Debt Meaning and Definition in Dictionary

Definitions from Wordnet 2.0

  • an obligation to pay or do something
  • money or goods or services owed by one person to another
  • the state of owing something (especially money); "he is badly in debt"

Definitions from Wiktionary

  • the state of owing something (especially money); "he is badly in debt" ,
  • money or goods or services owed by one person to another ,
  • an obligation to pay or do something

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Debt Meaning and Definition in Wikipedia

Debt is what someone owes to someone else. Usually, debt is in the form of money, but it can also be items, favors, or other things. Thus if you make an agreement to give or do something for someone else later, because they have given or done something for you, you now owe a debt.

Goods, services or money borrowed with the intent of repayment (in kind or not) creates a debt. Debt can be secured or unsecured in nature.

A secured debt involves the use of collateral, which is an asset that is obligated (promised) to the debt-holder until the debt has been repaid. If the repayment is not made in full, the lender gets the collateral asset. For instance, a car loan typically creates a secured debt. If you still owe money on the car loan and do not make timely payments, the note-holder can take back (or repossess) the car and sell it to get the money still due. A home mortgage is similar.

Words and phrases related to 'Debt'

'Debt' example sentence in quotations

* The spirit in which a thing is given determines that in which the debt is acknowledged it's the intention, not the face-value of the gift, that's weighed. - Seneca

* We can pay our debt to the past by putting the future in debt to ourselves. - John Buchan

* A duty dodged is like a debt unpaid it is only deferred, and we must come back and settle the account at last. - Joseph F. Newton

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Debt Sample Sentences in News

  • Afford a Mortgage With Student Loan Debt
    Experts are divided on whether student debt is affecting the housing market. A recent study by John Burns Real Estate Consulting estimated that heavy college debt will reduce real estate sales by 8 percent for this year. Read more on this news related to 'Debt'
  • Permira Debt Managers raises direct lending fund
    Permira Debt Managers announced it has raised a new direct lending fund with commitments of 400 million euros (315.69 million pounds) at its first close. Owned by private equity firm Permira, PDM was established as an independent debt investing arm in 2007. Its new direct lending fund, Permira Credit Solutions II, attracted investments from pension funds, insuranc Read more on this news related to 'Debt'
  • Debate Over Long-Term Debt Is Rekindled in Midterms
    A “Grand Bargain” of budget cuts and entitlement and tax reforms is back in the news again, for one simple reason: Some of the lawmakers who supported a long-term blueprint for slowing the rate of growth of the $17.9 trillion national debt are facing negative political fallout in this midterm campaign season for the stand they took.   The “Grand Bargain” Read more on this news related to 'Debt'

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