verb to pay back or return money that was borrowed or owed
In finance, the word 'repay' is used to describe the act of returning borrowed money or fulfilling a financial obligation.
Within the banking sector, 'repay' refers to the process of returning a loan or debt to a financial institution.
For credit card users, 'repay' is relevant in terms of settling outstanding balances within a specified time frame.
In the context of personal loans, 'repay' is commonly used to discuss making regular payments to settle a borrowed sum.
When discussing mortgages, 'repay' is used to indicate the process of making monthly payments to pay off a home loan.
In a professional context, a writer may use 'repay' in the context of characters repaying debts or past actions in a story.
A psychologist may use 'repay' when discussing the concept of making amends or restitution as part of therapy or counseling sessions.
A financial analyst may use 'repay' when analyzing a company's ability to repay its debts or loans based on its financial statements.
A lawyer may use 'repay' when negotiating settlement terms or discussing repayment plans in legal cases involving financial obligations.
An accountant may use 'repay' when calculating interest payments or amortization schedules for loans that need to be repaid.