countable an amount of money that you oweBy this time we had debts of over £15,000.
run up a debt (=let it increase): She had run up debts of nearly £10,000.
pay (off)/repay a debt: Many people experience difficulty in paying off their debts.
clear/settle a debt (=pay all of it): She agreed to settle her sister’s debts.
cancel/write off a debt (=decide that it does not have to be paid): The bank finally agreed to cancel the debt.