oboloo

oboloo Glossary

Debt

oboloo Glossary

Debt

Debt Definition

Debt is an amount of money that is owed by one person or entity to another. Debt can be in the form of a loan, credit, or bond. A debt is considered to be a liability, because it must be repaid with interest.

There are many types of debt, but the most common are:

Mortgage debt: This is a loan that is used to purchase a home. The borrower makes monthly payments to the lender until the loan is paid off.

Auto loan debt: This is a loan that is used to purchase a vehicle. The borrower makes monthly payments to the lender until the loan is paid off.

Student loan debt: This is a loan that is used to finance education expenses. The borrower makes monthly payments to the lender until the loan is paid off.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971