"PAY OFF A DEBT/LOAN"
To finish paying back the money that one has borrowed from a bank/store, etc
Example: The furniture manufacturer was unable to pay off their loan so they went out of business.
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Example sentences:
- It was a miracle that we could pay off the mortgage / Fue un milagro que pudiéramos pagar la hipoteca.
- Next week I'll finish paying off my debts and I´ll be free again / La próxima semana terminaré de pagar mis deudas y seré libre de nuevo.
Additional examples:
- Last year I ended up paying off a high credit card debt
- Your debts are mounting up and there's simply no way you can afford to keep paying them off
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