paid down
/peɪd daʊn/
VERB
1. Reducing an outstanding debt
Having made payments toward a debt or financial obligation to reduce the amount owed.
1.1. Reducing loan or mortgage balances
Making payments that decrease the principal balance of a loan, mortgage, or other outstanding debt.
Synonyms
Antonyms
- increased
- accumulated
- borrowed
Examples
- She wisely paid down a portion of her debt before interest started accumulating.
- The homeowner decided to prioritize home improvements and paid down the mortgage.
- Sarah paid down a significant portion of her student loan debt last month.
Related Words
- amortized
- reduced
- discharged
- refinanced
- outstanding
1.2. Reducing credit card balances
Making payments to lower the amount owed on credit cards or other revolving credit accounts.
Synonyms
- reduced
- repaid
- settled
Antonyms
- increased
- ran up
- accumulated
Examples
- After receiving a bonus at work, he immediately paid down some of his outstanding bills.
- They diligently paid down their credit card balances to improve their financial stability.
Related Words
- credit balance
- principal
- installment
- repayment