Catholic Dictionary

Find accurate definitions of over 5,000 Catholic terms and phrases (including abbreviations). Based on Fr. John Hardon's Modern Catholic Dictionary, © Eternal Life. Used with permission.

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DEBT

What is due in justice to another, whether God or man, and whether to a single individual or a number of people, a community or an organization. The obligation may be in goods or services, either material or spiritual, owed by one party (the debtor) to another (the creditor). (Etym. Latin debitum, a sum due; from debere, to owe.)