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"service debts" is a correct and usable phrase in written English
It is a financial term referring to the process of paying off debts owed by either an individual or business. For example: "The company is taking steps to service its debts in order to improve its financial situation."
Exact(26)
Consumers are overstretched, with 21.5% of household income going to service debts.
Developing nations would service debts on the low-interest bonds, partly by selling streams of carbon permits into international markets.
As banks worry about their customers' abilities to service debts, Chinese firms are finding it harder to get loans.
The bet investors are making is on countries' willingness to service debts even after a change of government.
Shortfalls were once covered by imports, but the state has to use its remaining petrodollars to service debts.
Already, about one-fifth of state general spending goes to pay for pensions and service debts, a proportion that will soar in coming years.
Similar(34)
As you are living abroad, you may also want to consider using our online counselling service, Debt Remedy.
This would not, of course, be a conventional failure to service debt, but could be viewed as default by stealth.
* Government's "biggest single saving" is the £6 billion a year less it is paying to service debt.
This would enhance and restore the country's competitiveness and its ability to service debt and interest payments.
No matter which option we choose, money spent to service debt can't be spent for other things we value.
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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