Debt is that which is owed. A person or company owing debt is called a debtor. An entity to whom debt is owed is called a creditor. Debt is used to borrow purchasing power from the future. Companies use debt as a part of their overall corporate finance strategy.
Types Of Debt
There are many types of debt obligations. They include but are not limited to mortgages, HELOC, bonds, credit cards and promissory notes. It is very common ...