USA HISTORY

Detailed explanation-1: -Debt comes from the Latin word debitum, which means “thing owed.” Often, a debt is money that you must repay someone. Debt can also mean the state of owing something-if you borrow twenty dollars from your brother, you are in debt to him until you pay him back.

Detailed explanation-2: -A debt is an amount of money that you owe someone.

Detailed explanation-3: -Debt is anything owed by one party to another. Examples of debt include amounts owed on credit cards, car loans, and mortgages.

Detailed explanation-4: -Debtor Definition FAQs Debtors are individuals or businesses that owe money. Debtors can owe money to banks, or individuals and companies. Debtors owe a debt that must be paid at some time in the future.

Detailed explanation-5: -A debt is the sum of money that is borrowed for a certain period of time and is to be return along with the interest. The amount as well as the approval of the debt depends upon the creditworthiness of the borrower. There are different types of debts that vary with the requirements of the borrower.