Debt Retirement
/ˈdɛt rɪˌtaɪərmənt/
Definitions
- (n.) The act of fully paying off or extinguishing a debt by the debtor.
The company completed debt retirement ahead of schedule to improve its creditworthiness.
- (n.) The process by which a debtor removes an outstanding obligation through repayment, refinancing, or settlement.
Debt retirement was achieved through a combination of cash repayment and asset sales.
Forms
- debt retirement
Related terms
See also
Commentary
Debt retirement commonly involves complete satisfaction of a debt and differs from mere periodic repayment; clarity in contracts should specify whether partial or full retirement is intended.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.