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Discover LudwigThe phrase 'pay it back' is correct and usable in written English.
It is often used when talking about repaying money or favours. For example: "I lent you $20 last week, so can you please pay it back soon?".
Exact(59)
How did you pay it back?
"He thought he could pay it back".
"Now we have to pay it back".
And please remember to pay it back.
Their priority is to pay it back.
His family helped him pay it back.
How do you pay it back?
The Foreign Office should pay it back".
With half saying they couldn't pay it back," he said.
He said he would pay it back double".
Similar(1)
Here, a bank will lend you money and expect you to pay it back, with interest.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com