What does debt mean?

Debt is something, usually money, owed by one party to another. Debt is used by many individuals and companies to make large purchases that they could not afford under other circumstances. Unless a debt is forgiven by the lender, it must be paid back, typically with added interest. Debt is something one party owes another, typically money.

What is debt & how does it work?

Debt is something one party owes another, typically money. Companies and individuals often take on debt to make large purchases they could not afford without it. Debt can be secured or unsecured, with a fixed end date or revolving. Consumers can borrow money through loans or lines of credit, including credit cards.

What does it mean if someone owes a debt?

They write new content and verify and edit content received from contributors. debt, something owed. Anyone having borrowed money or goods from another owes a debt and is under obligation to return the goods or repay the money, usually with interest.