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English definition of “debt”

debt

noun [C or U] uk   /det/ us  
B2 something, especially money, that is owed to someone else, or the state of owing something: He managed to pay off his debts in two years. The firm ran up huge debts. They are in debt to (= owe money to) the bank. He ran/got into debt (= borrowed money) after he lost his job. The company is deep in debt (= owes a lot of money).
See also
Borrowing, lending and debt
(Definition of debt from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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