BECOME INDEBTED Meaning and
Definition
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"Become indebted" is a phrase that refers to the act of incurring financial obligations or owing a debt to another party. It suggests the state of being under a certain degree of financial liability, where an individual, organization, or entity has borrowed money or received goods and services on credit, thereby creating a monetary obligation that requires repayment at a later date.
When a person becomes indebted, it implies that they have entered into a financial arrangement that requires them to repay borrowed funds or fulfill a financial obligation to a creditor or lender. This could occur through borrowing money from a bank, obtaining a loan, using a credit card, or entering into agreements to pay for goods or services over time.
The consequences of becoming indebted vary depending on the terms of the debt. It often entails a legal and binding commitment to repay the borrowed amount with interest, which may be subject to specific repayment terms such as installments or a fixed payment schedule. Failure to fulfill these obligations can result in financial penalties, damaged credit history, legal action, or the loss of collateral pledged against the debt.
Overall, becoming indebted signifies assuming a financial debt that necessitates timely repayment, thereby influencing the financial condition and obligations of the debtor.
Common Misspellings for BECOME INDEBTED
- vecome indebted
- necome indebted
- hecome indebted
- gecome indebted
- bwcome indebted
- bscome indebted
- bdcome indebted
- brcome indebted
- b4come indebted
- b3come indebted
- bexome indebted
- bevome indebted
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- beckme indebted
- beclme indebted
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- bec0me indebted
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Etymology of BECOME INDEBTED
The word "become indebted" derives from the combination of two separate word origins.
1. "Become": The word "become" originates from the Old English word "becuman", which means "to come to be" or "to happen". It later evolved in Middle English to "bycome" and then to the present form "become", which means "to come into existence" or "to develop into something".
2. "Indebted": The word "indebted" comes from the Middle English word "indebted", which is derived from the Old French word "endetter", meaning "to involve in debt". The Old French term itself is a combination of the prefix "en-" (meaning "to cause" or "to make") and the word "det" (meaning "debt").
