Glossary Of Debt Management & Financial Terms
Debt, Over-Indebtedness
To be in debt is to owe money to somebody. Over-indebtedness is when this debt becomes too much for the debtor to cope with, i.e. they cannot meet repayments because they do not have enough income to cover the costs of their agreements - they have too much credit for their level of income.
See also Debt, Debtor and Credit
