noun a sum of money that is owed or due
adjective related to something that is owed or due
Debt is a financial obligation that must be repaid, often with interest.
Debt can impact a country's economy through factors such as debt-to-GDP ratio.
Debt is recorded as a liability on a company's balance sheet.
Banks lend money to individuals and businesses, creating debt that must be repaid.
High levels of debt can affect an investment's risk profile and potential returns.
Individuals may accumulate debt through credit cards, loans, or mortgages.
Debt can be a common theme in literature, often used to symbolize financial struggles, emotional burdens, or moral obligations.
Psychologists may study the psychological effects of debt on individuals, including stress, anxiety, and depression. They may also help clients develop coping strategies for managing debt-related issues.
Financial analysts analyze the debt levels of companies as part of their financial evaluation. They assess the company's ability to repay its debts and provide recommendations based on their findings.
Accountants help individuals and businesses manage their debt by creating budgets, advising on debt repayment strategies, and ensuring compliance with debt-related financial regulations.
Lawyers specializing in debt-related issues may help clients negotiate debt settlements, file for bankruptcy, or defend against debt collection lawsuits. They provide legal guidance on debt laws and regulations.