debt
- 01 B1 Intermediate
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.
Simple“It took him three years to pay off his student debt after graduating.”
In context“The company struggled to service its mounting debt as interest rates rose and consumer demand began to soften.”
PitfallHe 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.
- 02 B1 Intermediate
the situation of owing money to others.
the state or condition of owing money; often used in the phrase 'in debt'.
Simple“The family was deeply in debt after the business failed.”
In context“Living in debt creates a cycle of stress that can prevent individuals from making long-term financial investments.”
UsageCommonly follows the preposition 'in'.
SynonymsAntonyms - 03 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.
Simple“I owe her a debt of gratitude for helping me find this job.”
In context“The nation owes a profound debt to the volunteers who risked their lives during the emergency rescue operations.”
UsageOften used in the phrase 'a debt of gratitude'.
Synonyms - 04 C1 Advanced
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.
Simple“The firm decided to bring an action of debt against the supplier.”
In context“The plaintiff initiated a debt proceeding to recover the unpaid balance of the construction contract plus statutory interest.”
“Have you really spent three years of your life in the best possible way, and was it worth £50,000 worth of debt.”
“The treasury’s latest debt balance showed $40.047tn on Tuesday afternoon, the highest in US history.”
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.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.