Pay Off Debt: Meaning and Usage

Meaning 1：clear a debt (pay off debt)

pay off debt 🔊

/peɪ ɔːf dɛt/

verb phrase

To give someone all the money that you owe them, so you don't owe anything anymore.

Person smiling while tearing paid in full debt paper

clear a debt 🔊

➕

/klɪr ə dɛt/

verb phrase

To fully repay all money that is owed, thereby ending the obligation.

📁 Category：Social Economy 🔖 Level：Intermediate

📘 Details & Usage

📖 Root Explanation

pay (give money) + off (completely) + debt (money owed).

💡 Mnemonic

Imagine a triumphant handshake after handing over the last payment—debt is gone!

📖 Example

After years of saving, they finally paid off their debt and celebrated by going on a family trip. 🔊 After years of saving, they finally paid off their debt and celebrated by going on a family trip.

🔗 Collocations

pay off a loan – to repay a sum of money borrowed from a bank or lender

pay off all debts – to settle every outstanding financial obligation

pay off credit card balance – to clear the total amount owed on a credit card

🔄 Synonyms

settle a debt (verb phrase) – to resolve a financial liability by making full payment

discharge a debt (verb phrase) – to formally fulfill a debt obligation, often used in legal contexts

clear a debt (verb phrase) – to pay off all money owed and eliminate the debt

🚫 Antonyms

incur debt (verb phrase) – to take on new financial obligations

borrow money (verb phrase) – to receive funds from another person with a promise to repay

accumulate debt (verb phrase) – to gradually increase the amount of money owed

🌱 Derivatives

debt (noun) – money that is owed

payoff (noun) – the act of settling a debt, or the resulting benefit

debtor (noun) – a person who owes money

📖 Cultural Story

Originating in 14th-century English, 'pay off' uses 'off' to indicate completion; 'debt' comes from Latin 'debitum', meaning something owed. In modern finance, it signifies full settlement.