eliminate debt

USAGE SUMMARY

"eliminate debt" is a correct and usable phrase in written English.
It can be used when discussing financial matters and ways to become debt-free. For example: - As part of our budget plan, we need to come up with a strategy to eliminate debt and become financially stable. - John was able to eliminate his credit card debt by sticking to a strict budget and cutting back on unnecessary expenses. - The government is implementing policies to help citizens eliminate their student loan debt. - Eliminating debt should be a top priority for anyone seeking long-term financial security.

✓ Grammatically correct

News & Media

Wiki

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

25 human-written examples

Snyder's plan would eliminate debt in the district that is equal to $1,100 per child, Murray said.

The Guardian

He said that would let the company do things like reduce its tax liability and restructure or eliminate debt.

The New York Times

The report described debt collectors encouraging some borrowers to commit suicide, in some cases after suggesting it as a way to eliminate debt.

The New York Times

Mr. Jones "quickly established a good rapport with key donors" that allowed it to eliminate debt and mount a full season, said Paul Griswold, the company's finance director.

The New York Times

KarstadtQuelle, Germany's largest department-store operator, agreed to sell its property to a joint venture with Goldman Sachs for 4.5 billion euros ($5.4 billion) to eliminate debt.

The New York Times

Mr. Rose is particularly good in explaining how to establish and keep good credit; the need for having clear, specific financial goals; how to learn from your mistakes when you go off track; and the best ways to eliminate debt.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

35 human-written examples

That's because, they say, "maintaining motivation to eliminate debts over a long time horizon might necessitate small wins along the way".

The New York Times

The government has 60 days to clean up G.M.'s balance sheet, eliminate debts and shed product lines and dealerships so it can emerge as a smaller, viable car company.

The New York Times

As a result, he said, eliminating debt alone "may not be sufficient to effect a reorganization".

The New York Times

But its cost structure has been reduced substantially, first through worker buyouts and plant closings and then by eliminating debt during its bankruptcy.

The New York Times

Clinton writes in "Back to Work" that the nation could have eliminated debt completely by 2013 if the Bush administration stuck to his deficit reduction plan.

The New York Times - Books

Expert writing Tips

Best practice

When discussing strategies for "eliminate debt", be specific about the methods, such as budgeting, consolidating loans, or increasing income, to provide actionable advice.

Common error

Avoid using "reduce debt" and "eliminate debt" interchangeably. Reducing debt implies lowering the amount owed, while eliminating debt means paying it off entirely. Be precise to avoid misleading your audience.

Linguistic Context

The phrase "eliminate debt" functions primarily as a verb phrase + noun, indicating an action (eliminate) performed on an object (debt). Ludwig AI confirms its grammatical correctness and usability in financial contexts.

Expression frequency: Very common

Frequent in

News & Media

60%

Wiki

20%

Formal & Business

10%

Less common in

Science

5%

Encyclopedias

3%

Reference

2%

Ludwig's WRAP-UP

In summary, "eliminate debt" is a grammatically sound and widely used phrase that describes the action of becoming debt-free. According to Ludwig AI, it is most commonly found in news and media, as well as financial discussions. When using this phrase, be mindful of its specific meaning – completely paying off all debts – and differentiate it from simply reducing debt. For alternatives, consider "abolish debt" or "get rid of debt", depending on the context. Effective communication involves specifying practical methods and avoiding interchangeable use with similar phrases that might alter the overall message.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

abolish debt

A more formal synonym for "eliminate debt", suggesting a complete and official removal of debt.

eradicate debt

Implies a thorough and permanent removal of debt, similar to eliminating a disease.

get rid of debt

A more informal way to say "eliminate debt", suitable for casual conversation.

pay off debt

Focuses on the action of repaying the debt completely, leading to its elimination.

resolve debt

Suggests finding a solution to the debt problem, which may or may not involve complete elimination.

reduce debt

Indicates lessening the amount of debt, but not necessarily eliminating it entirely.

alleviate debt

Suggests easing the burden of debt, but not necessarily getting rid of it completely.

restructure debt

Involves changing the terms of the debt, such as interest rates or payment schedule, rather than eliminating it.

consolidate debt

Combines multiple debts into one, potentially simplifying repayment but not eliminating the total amount.

write off debt

Indicates that the debt is considered uncollectible and is removed from the books, but the obligation may still exist.

FAQs

How can I use "eliminate debt" in a sentence?

You can use "eliminate debt" in sentences like: "Our financial goal is to "eliminate debt" within five years", or "The company plans to "eliminate debt" by selling assets".

What are some strategies to "eliminate debt"?

Strategies to "eliminate debt" include creating a budget, increasing income, consolidating debts, and prioritizing high-interest debts.

What is the difference between "eliminate debt" and "reduce debt"?

"Eliminate debt" means to completely pay off all outstanding debts, while "reduce debt" implies lowering the amount of debt owed but not necessarily paying it off entirely. Focus on "eliminate debt" when your goal is becoming debt free.

What can I say instead of "eliminate debt"?

You can use alternatives like "abolish debt", "eradicate debt", or "get rid of debt" depending on the context.