Defining Debt

Topic Progress:

Miriam Webster defines debt as:

  1. SINTRESPASS Forgive us our debts.
  2. something owed OBLIGATION – unable to pay off his debts, owe them a debt of gratitude a criminal’s debt to society
  3. a state of being under obligation to pay or repay someone or something in return for something received a state of owing deeply in debt to creditors
  4. lawbusiness the common-law action for the recovery of money held to be due

It’s interesting that the first definition is a Sin or Trespass – meaning that the primary definition is something that is bad.  And debt taken on unconsciously can often be bad.  I have my own definition for it: 

Getting money now with a promise to repay in the future – for more money