| 单词 | debt |
| 释义 | debt Money owed by one person or organization to another. A debt contract states the terms of borrowing; what interest and redemption payments the borrower must make, and what collateral must be provided. Debt contracts stipulate the currency in which payment is due; foreign currency debt is debt where the interest and redemption payments due are in some currency other than the debtor's own. Debt may have interest or redemption payments linked to a price index. Debt service is the money required to make the interest and redemption payments due. A debt collector or debt-collection agency is a person or firm specializing on collecting debts on behalf of other people. Secured debt is debt where the borrower provides collateral, which the lender is entitled to take over if the promised payments are not made. mortgage debt is debt secured on houses, other buildings, or land. With unsecured debt the lender has no special claim on any particular part of the borrower's assets. International debt is debt owed by individuals, firms, or the government of one country to residents of another, or to international agencies. LDC debt is the debt of less developed countries. If debtors cannot pay, they may default, or the lender may agree to ‘roll over’ or reschedule debt. This means that the lender agrees to defer the receipt of interest or redemption payments, or to make fresh loans to cover the payments due on the old debt. A debt crisis occurs when there is widespread inability to pay debts, or widespread fear of default. If private parties do not pay their debts, there is usually some legal process available to compel them to pay, or to make them bankrupt if they cannot pay. Sovereign debt is the debt of governments, which cannot be compelled to pay unless they submit voluntarily to legal processes. See also: bad debt, deadweight debt, government debt, national debt, non-marketable debt, non-performing debt, and sovereign debt |
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