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Define Debt

By Debt.ca on August 1, 2011 No Comments

Debt is defined as the amount of money that you owe to somebody. In other words the debt is what one party or a debtor owes to the second party or a creditor. A debt gets created as soon as any creditor provides an asset to the debtor on certain terms and conditions. In order to pay your debt, you will have to pay an interest rate on top of the amount borrowed.

The popular word debt is derived from the French word dette and from the Latin language’s debere which was used when somebody owed an asset to others. The letter ‘b’ was introduced in the word debt in the 17th century by Samuel Johnson.

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The Secret to Crushing Debt

By Andrew Daniels on December 1, 2016

The Secret to Crushing Debt If there is something that I have been asked many times since we paid off our mortgage it’s “What’s the secret to crushing debt?” Is there really a secret formula to crushing debt? In a word: Yes. There are methods that will help you crush your debt that are quicker…

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You Paid Off Your Debt, Now What?

By Alyssa Davies on November 24, 2016

You did it, you finally made that last payment on your debt load, and you are ready to move on to bigger and brighter things. Money management is something you feel you can finally control and understand, which has become an important part of your new financial life. But after all of those days, months,…

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How Parents’ Debt Affects Children

By Amanda Reaume on November 15, 2016

While they might not always show it, children are incredibly sensitive to everything going on in their parents’ lives. It’s therefore not surprising that the stress that a family experiences from dealing with debt could have an impact on kids. A recent study by Lawrence M. Berger of the Institute of Research on Poverty at…

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The 3 Things You Need Besides Money To Pay Off Your Debt

By Andrew Daniels on November 7, 2016

You’ve decided that you want to break free from debt once and for all. Congratulations! When it comes to paying off your debt there are a lot of things to think about, but deciding to get out of debt is the biggest decision of all. While money is the most important part of debt repayment,…

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