Debt (noun)

1. Something, typically money, that is owed to someone else.
2. A state of owing something, especially money.

Origin:

Middle english dette, from old french dette, from latin debitum, from neuter past participle of debere to owe.

Examples:

1. He was in debt to the bank for the loan on his house.
2. The company was struggling to pay off its debts.