debt according to what I know is someone who agrees to borrow but after borrowing money or goods the person does not pay it or redeems it by returning or delaying to return the money or property he borrowed
Debt is someone who borrows from a financial institution where he has the obligation to pay within a certain period of time with the agreed interest. In the rules it is explained that if you cannot pay on time or break promises there are legal rules that will be applied.