debt 
/ˈdɛt/ noun
plural debts /ˈdɛt/ noun 1 [count] : an amount of money that you owe to a person, bank, company, etc.
▪ He is trying to pay off gambling debts. ▪ The company has run up huge debts. ▪ Their debts are piling up. ▪ She's finally paid off her mortgage debt. [=the money that she owed the bank to pay for her house] ▪ the nation's growing foreign debt [=the amount of money that a country owes other countries] ▪ Most of his debts are consumer debts. [=most of his debts are from buying things at stores] — see also national debt 2 [noncount] : the state of owing money to someone or something
▪ He is drowning in a sea of debt. [=he owes a very large amount of money] ▪ a mountain of debt ▪ He's been working three jobs in an attempt to get out of debt. ▪ The company was in debt but is now turning a profit. ▪ I am deep/heavily in debt. ▪ I'm thousands of dollars in debt. ▪ She went into debt to pay for college. ▪ I'm worried that we will fall into debt. ▪ banks with millions of dollars of bad debt [=banks that have loaned millions of dollars that will not be repaid] ▪ a debt-ridden country [=a country with more debt than it can pay] 3 [count] : the fact that you have been influenced or helped by someone or something — usually singular ▪ The photographer has acknowledged a/his debt to Andy Warhol. [=the photographer has said that his work was influenced by the photographs made by Andy Warhol]
▪ He is trying to pay off gambling debts. ▪ The company has run up huge debts. ▪ Their debts are piling up. ▪ She's finally paid off her mortgage debt. [=the money that she owed the bank to pay for her house] ▪ the nation's growing foreign debt [=the amount of money that a country owes other countries] ▪ Most of his debts are consumer debts. [=most of his debts are from buying things at stores] — see also national debt
▪ He is drowning in a sea of debt. [=he owes a very large amount of money] ▪ a mountain of debt ▪ He's been working three jobs in an attempt to get out of debt. ▪ The company was in debt but is now turning a profit. ▪ I am deep/heavily in debt. ▪ I'm thousands of dollars in debt. ▪ She went into debt to pay for college. ▪ I'm worried that we will fall into debt. ▪ banks with millions of dollars of bad debt [=banks that have loaned millions of dollars that will not be repaid] ▪ a debt-ridden country [=a country with more debt than it can pay]
debt to society
— used in phrases like pay your debt to society to refer to being punished for committing a crime ▪ after 10 years in prison, he has paid his debt to society and is a free man.
in someone's debt
◊If you are in someone's debt, you are very thankful for something that someone has done for you.
▪ I am in your debt for your help and support.
▪ I am in your debt for your help and support.
owe a debt of gratitude/thanks to
: to have a good reason to be very grateful to (someone)
▪ The whole town owes a debt of gratitude to the people who organized the parade.
▪ The whole town owes a debt of gratitude to the people who organized the parade.
