pay debts

See: liquidate
References in classic literature ?
I do not think this general insolvency, which involves in some sort all the population, to be the reason of the difficulty experienced at Christmas and New Year and other times, in bestowing gifts; since it is always so pleasant to be generous, though very vexatious to pay debts.
Pay debts with savings - debt interest is higher than savings returns.
It can free up cash to pay debts and make life more affordable by cutting bills.
A PERSONAL assistant helped herself to pounds 160,000 of company cash to pay debts.
The Company anticipates it will use approximately $550,000 of the proceeds from the transaction immediately to pay debts and other costs, including costs of winding up its telecommunications operations.
A company may continue to incur additional debts in the ordinary course of business and to pay debts that accrue pending the arrangement proceedings.