debt

noun

ˈdet 

1

: something owed : obligation

unable to pay off his debts

owe them a debt of gratitude

a criminal's debt to society

2

: a state of being under obligation to pay or repay someone or something in return for something received : a state of owing

deeply in debt to creditors

3

law and business : the common-law action for the recovery of money held to be due

4

: sin, trespass

Forgive us our debts.

debtless

ˈdet-ləs 

adjective

Synonyms

• arrearage
• arrears
• indebtedness
• liability
• liabilities
• obligation
• score

Examples of debt in a Sentence

He is trying to pay off gambling debts.

The company has run up huge debts.

Their debts are piling up.

He's been working three jobs in an attempt to get out of debt.

The company was in debt but is now turning a profit.

I am deep in debt.

I'm thousands of dollars in debt.

She went into debt to pay for college.

I'm worried that we will fall into debt.

Recent Examples on the Web

The filing also details various financial agreements, including convertible debt transactions and a licensing agreement with Advaxis, Inc. —Quartz Bot, Quartz, 15 Nov. 2024

Last week, bond yields surged on expectations that President-elect Donald Trump’s plans to lower tax rates, increase tariffs and reduce regulation could ultimately lead to higher U.S. government debt and inflation, along with faster economic growth. —Alex Veiga, The Denver Post, 15 Nov. 2024

He’s been in partnerships with prominent architects who were named as co-defendants when he was sued for yet another debt in 2019. —Suzanne Seggerman, Curbed, 14 Nov. 2024

New debt would go toward replacing hidden debt, the report said, noting that Finance Minister Lan Fo’an spoke at the meeting on the plan. —Evelyn Cheng, CNBC, 5 Nov. 2024

Word History

Etymology

Middle English dette, debte, from Anglo-French dette something owed, from Vulgar Latin *debita, from Latin, plural of debitum debt, from neuter of debitus, past participle of debēre to owe, from de- + habēre to have — more at give

First Known Use

13th century, in the meaning defined at sense 4

Phrases Containing debt

• bad debt
• consumer debt
• debt bondage
• debt burden
• debt load
• debt of gratitude
• debt-ridden
• debt service
• debt slavery
• debt to society
• deep in debt
• foreign debt
• in someone's debt
• national debt
• owe a debt of gratitude/thanks to
• owe them a debt of gratitude
• oxygen debt
• pay your debt to society

Kids Definition

debt

noun

ˈdet 

1

: sin entry 1 sense 1, trespass

2

: something owed to another : a thing or amount due

pay a debt of $10

3

: a condition of owing

hopelessly in debt

Legal Definition

debt

noun

1

: something owed: as

a

: a specific sum of money or a performance due another especially by agreement (as a loan agreement)

to pay the debts…of the United States

—U.S. Constitution art. I

a debt for alimony

b

: an obligation to pay or perform on another's claim

discharged the debt

compare asset, equity sense 4

Note: It is often up to the courts to decide what is or is not a debt under various laws. Courts disagree whether criminal restitution is a debt under the Bankruptcy Code.

— antecedent debt

: debt that is incurred prior to a property transfer paying or securing the debt compare preference

— bad debt

: a debt that cannot be collected

Note: An income tax deduction is allowed for bad debts.

— consumer debt

: debt that is incurred by an individual primarily for the purchase of consumer goods or services compare consumer credit

— judgment debt

: a debt established by a judgment and enforceable by a legal process (as an execution of judgment or attachment)

c

: a state of owing

in debt

d

: the aggregate of money owed

the national debt

2

: the common-law action for the recovery of a specified sum of money or a sum that can be simply and certainly determined

called also action of debt, writ of debt

compare assumpsit, covenant

Etymology

Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe