Debt

Business / Loan / Debt: An amount owed for funds borrowed. The debt may be owed to an organization's own reserves, individuals, banks, or other institutions. Generally, the debt is secured by a note, bond, mortgage, or other instrument that states repayment and interest provisions. The note, in turn, may be secured by a lien against property or other assets.

Other Words for Debt

Debt Adjective Synonyms: obligation, due, indebtedness, liability, responsibility, accountability, encumbrance
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Fair Debt Collection Practices Act (1978)

Business / Accounting / Fair Debt Collection Practices Act (1978): Federal law that prohibits debt collectors from engaging in unfair, deceptive, or abusive practices when collecting debts. Collectors must send a written notice telling the amount owed and name of the MORE

Level Debt Service

Business / Finance / Level Debt Service: A municipal charter provision that debt payments must be relatively equal from year to year so that required revenue projections are easier. MORE

Self-Supporting Debt

Business / Finance / Self-Supporting Debt: Bonds sold to finance a project that will produce enough revenue through tolls or other charges to retire the debt . See: revenue bond. MORE

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