Debt: meaning, definitions and examples

Used in everyday language to refer to money that one person or entity owes to another.

• She managed to pay off all her credit card debt.
• The company is struggling with a large amount of debt.

Used to refer to a duty or commitment to do something, often in both moral and financial contexts.

• Parents have a legal obligation to send their children to school.
• He fulfilled his obligation to repay the loan.

Used in both legal and financial contexts to refer to obligations that someone is responsible for, often broader than just owing money.

• The company faces a liability of millions of dollars due to the lawsuit.
• You need insurance to cover personal liabilities in case of an accident.

Used in formal or financial contexts to describe the state of owing money or feeling gratitude.

• The report highlighted the rising levels of household indebtedness.
• He spoke of his deep indebtedness to his mentor.

This word is used when someone owes money or another obligation to someone else. It often has a negative connotation.

• She fell into debt after losing her job.
• He worked hard to pay off his student loans and finally got out of debt.

This term is best used to express thankfulness and sincere recognition of something someone has done for you or given to you.

• She expressed deep gratitude for the help she received from the community.
• I feel a lot of gratitude for having such supportive friends and family.

Use this word to express recognition and enjoyment of someone's qualities, contributions, or efforts in a positive way.

• We need to show our appreciation for all the hard work the team has done.
• He received a plaque as a token of appreciation for his years of service.

Use this word to convey a general sense of thankfulness and appreciation for various positive aspects or blessings in life.

• During Thanksgiving, we all share what we are thankful for.
• His thankfulness for the little things in life helped him stay positive.