A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.
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Some articles on debt:
... Global debt underwriting grew 4.3% year-over-year to $5.19 trillion during 2004 ... It is expected to rise in the coming years if the spending habits of millions of people worldwide continue the way they do ...
... Subordinated debt is debt that ranks lower than ordinary depositors of the bank ... Only those with a minimum original term to maturity of five years can be included in the calculation of this form of capital they must be subject to proper amortization arrangements ...
... When a consumer becomes severely delinquent on a debt (often at the point of six months without payment), the creditor may declare the debt to be a charge-off ... off as uncollectable." To banks, bad debts and even fraud are simply part of the cost of doing business ... However, the debt is still legally valid, and the creditor can attempt to collect the full amount for the time periods permitted under state law, which is usually 3 to ...
... The Ottoman public debt was a term which dated back to 4 August 1854, when the Ottoman Empire first entered into loan contracts with its European creditors shortly after ... willingness to constantly refinance its debts ... In 1881, as part of the Decree of Muharrem which reduced the overall public debt, the Ottoman Public Debt Administration was established ...
... In economics, consumer debt is outstanding debt of consumers, as opposed to businesses or governments ... In macroeconomic terms, it is debt which is used to fund consumption rather than investment ... It includes debts incurred on purchase of goods that are consumable and/or do not appreciate ...
More definitions of "debt":
- (noun): An obligation to pay or do something.
- (noun): Money or goods or services owed by one person to another.
Famous quotes containing the word debt:
“Ambitions debt is paid.”
—William Shakespeare (15641616)
“Capitalism is an art form, an Apollonian fabrication to rival nature. It is hypocritical for feminists and intellectuals to enjoy the pleasures and conveniences of capitalism while sneering at it.... Everyone born into capitalism has incurred a debt to it. Give Caesar his due.”
—Camille Paglia (b. 1947)
“Live within your means, never be in debt, and by husbanding your money you can always lay it out well. But when you get in debt you become a slave. Therefore I say to you never involve yourself in debt, and become no mans surety. If your friend is in distress, aid him if you have the means to spare. If he fails to be able to return it, it is only so much lost.”
—Andrew Jackson (17671845)