To be in somebody's debt (2024)

FAQs

What does it mean to be in someone's debt? ›

to be in someone's debt: to owe something to someone, to need to repay someone idiom. If you do this for me, I will forever be in your debt and will do you any favor that you ask of me. a debt: money owed to someone noun. "I would be eternally in your debt!"

You probably notice a big chunk of the word indebted is made up of the words “in debt.” If you're indebted to someone you are indeed in debt — for either money or gratitude. You might be indebted to your credit card company, meaning you owe them money.

Love your friend, make time to listen to them, and help them feel safe and free from judgement. Many people in debt feel shame, so it's vital that you assure them you're not judging them. Don't push them to make any decisions, but say that you are there to listen and support them.

If you are in debt or get into debt, you owe money. If you are out of debt or get out of debt, you succeed in paying all the money that you owe.

Some causes may be the result of expensive life events, such as having children or moving to a new house, while others may stem from poor money management or failure to meet payments on time. Here are some of the more common causes of debt people face in their everyday lives.

“Credit” is the opposite to “Debt”. If you owe money you are a debtor and if you are owed money you are a creditor.

Yes, you can sue someone who owes you money. When someone keeps "forgetting" to pay you or flat out refuses to pay up, the situation can quickly become frustrating. You can take the issue to small claims court and pursue legal action if it falls between the minimum and maximum money thresholds under court rules.

Common examples are student loans, mortgages and credit card purchases. But did you know those loans are actually considered different types of debt? Debt often falls into four categories: secured, unsecured, revolving and installment.

Ask them to repay some of the money.

Regardless of their financial situation, recouping some of your losses is always preferable to none. You could say something like, "It would be helpful to me, if you could make a payment towards the loan today."

Be direct and honest: Don't beat around the bush. Tell your friend you need the money back and when you need it. Be understanding: If your friend struggles to repay you, offer to work out a payment plan to give them some extra time.

What to say to someone who is financially stressed? ›

Gently let them know that you care about them, and want to help. Listen and be curious about their experience. Give them space to share if they choose to.