Debt repayment refers to the process of paying off a debt or an obligation that one owes to another party. This can be done through regular installments, lump sum payment or any other mutually agreed upon method between the borrower and the creditor. Debt repayment is usually accompanied by interest charges which are added to the principal amount borrowed. The process of debt repayment involves making timely payments as per the agreed schedule in order to avoid default, late fees or any legal consequences that may arise from non-payment.