Debt

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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, services, favors, or other things. Thus if you make an agreement to give or do something for someone else, 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 uses collateral, which is an asset that is 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


  • Lew tells Congress of emergency measures to avoid debt limit
    Treasury Secretary Jacob Lew told Congress on Friday that he will start using the package of emergency measures he has used in the past to keep the federal government from going over the debt limit next ... Read more on this news related to 'Debt'
  • Fitch Rates Marsh & McLennan's New Debt Issue 'BBB+'
    Fitch Ratings has assigned a senior unsecured debt rating of 'BBB+' to Marsh & McLennan Companies, Inc.'s new issue of $500 million 2.35% senior notes due 2020. A full list of MMC's ratings follows at the end of this release. Read more on this news related to 'Debt'
  • Lawmakers slam government debt collection
    Lawmakers and consumer advocates are speaking out against the special treatment given to debt collectors hired by government agencies across the country. Read more on this news related to 'Debt'

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