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What is debt?

Updated: 9/11/2023
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Wiki User

13y ago

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Outstanding balance in your loan account or credit card account that remains unpaid beyond the due date. It's the debtor's obligation to repay such dues to the creditor.

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13y ago
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15y ago

{| |- | Debt is the money which you borrowed from anyone and you owe it. One should borrow money only if very necessary and should be able to pay it back. |}

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9y ago

A debt is something usually in the form of money that is owed or due.

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