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debt

n.
US //ˈdɛt// UK //dˈɛt// debt
  1. 1 money owed (n.)
    B1 Intermediate Finance

    an amount of money that you owe to a person, bank, or company.

    a specific sum of money owed by one party to another, typically arising from a loan or credit agreement.

    Example

    It took him three years to pay off his student debt after graduating.

    Example

    The company struggled to service its mounting debt as interest rates rose and consumer demand began to soften.

    Pitfall
    He paid his debts with a lot of interests.
    He paid his debts with a lot of interest.

    In the context of money paid for a loan, 'interest' is uncountable.

  2. 2 the state of owing (n.)
    B1 Intermediate

    the situation of owing money to others.

    the state or condition of owing money; often used in the phrase 'in debt'.

    Example

    The family was deeply in debt after the business failed.

    Example

    Living in debt creates a cycle of stress that can prevent individuals from making long-term financial investments.

    Usage

    Commonly follows the preposition 'in'.

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  1. 3 moral obligation (n.)
    B2 Upper Intermediate

    a feeling that you should do something for someone because they were kind to you or helped you.

    a moral or social obligation to perform a service or show gratitude to another party.

    Example

    I owe her a debt of gratitude for helping me find this job.

    Example

    The nation owes a profound debt to the volunteers who risked their lives during the emergency rescue operations.

    Usage

    Often used in the phrase 'a debt of gratitude'.

  2. 4 legal action for money (n.)
    C1 Advanced Technical Formal Law

    a legal process used to get back money that is owed.

    a formal legal action or proceeding brought to recover a specific sum of money.

    Example

    The firm decided to bring an action of debt against the supplier.

    Example

    The plaintiff initiated a debt proceeding to recover the unpaid balance of the construction contract plus statutory interest.

Origin

From Middle English dette, dett, borrowed from Old French dete (French dette), from Medieval Latin dēbita, from Latin dēbitum (“what is owed, a debt, a duty”), neuter of dēbitus, perfect passive participle of dēbeō (“to owe”), contraction of *dehibeō (“I have from”), from de (“from”) + habeō (“to have”). Doublet of debit. The unpronounced "b" in the modern English spelling is a Latinisation from the Latin etymon dēbitum.

Idioms1 entry

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