Business Dictionary :
Debt



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Debt : noun : money owed for goods or services

• The company stopped trading with debts of over £1 million.



To be in debt = to owe money


• He is in debt to the tune of £250 = he owes £250.


To get into debt = to start to borrow more money than you can pay back


• The company is out of debt = the company does not owe money any mute.



To pay back a debt = to pay all the money owed


To pay off a debt = to finish paying money owed


To service a debt = to pay interest on a debt


• The company is having problems in servicing its debts.


Bad Debt = money owed which will never be paid back


• The company has written off £30,000 in bad debts.



Secured Debts = debts which are guaranteed by assets


Unsecured Debts = debts which are not guaranteed by assets


Debt Collection = collecting money which is owed


Debt Collection Agency = company which collects debts for a commission


Debt Collector = person who collects debts


Debts Due = money owed which is due for repayment


Funded Debt = part of the British National Debt which pays interest, but where there is no date for repayment of the principal


The National Debt = money borrowed by a government


Debtor : noun : person who owes money


Debtor Side = debit side of an account


Debtor Nation = country whose foreign debts are larger than money owed to it by other countries


QUOTE : The United States is now a debtor nation for the first time since 1914 owing more to foreigners than it is owed itself. (Economist)




























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