Business Dictionary :

Previous Page

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)

Business Dictionary Index

From Debt to HOME PAGE