pay down


Also found in: Financial, Idioms.

pay 1

 (pā)
v. paid (pād), pay·ing, pays
v.tr.
1. To give money to in return for goods or services rendered: pay the cashier.
2. To give (money) in exchange for goods or services: paid four dollars for a hamburger; paid an hourly wage.
3. To discharge or settle (a debt or obligation): paying taxes; paid the bill.
4. To bear (a cost or penalty, for example) in recompense: She paid the price for her unpopular opinions.
5. To yield as a return: a savings plan that paid six percent interest.
6. To afford an advantage to; profit: It paid us to be generous.
7. To give or bestow: paying compliments; paying attention.
8. To make (a visit or call).
9. Past tense and past participle paid or payed (pād) To let out (a line or cable) by slackening.
v.intr.
1. To give money in exchange for goods or services.
2. To discharge a debt or obligation.
3. To bear a cost or penalty in recompense: You'll pay for this mischief!
4. To be profitable or worthwhile: It doesn't pay to get angry.
adj.
1. Of, relating to, giving, or receiving payments.
2. Requiring payment to use or operate: a pay toilet.
3. Yielding valuable metal in mining: a pay streak.
n.
1. The act of paying or state of being paid.
2. Money given in return for work done; salary; wages.
3.
a. Recompense or reward: Your thanks are pay enough.
b. Retribution or punishment.
4. Paid employment: the workers in our pay.
5. A person considered with regard to his or her credit or reliability in discharging debts.
Phrasal Verbs:
pay back
1. To pay or return (what is owed as a debt).
2. To repay (a person who is owed a debt).
3. To give recompense to; reward: How can we ever pay you back for what you've done for us?
4. To reciprocate; return: pay back a kindness.
5. To retaliate against or get revenge upon.
pay down
To reduce (a debt) through payment.
pay off
1. To pay the full amount on (a debt).
2. To result in profit or advantage; succeed: Your efforts will eventually pay off.
3. To pay the wages due to (an employee) upon discharge.
4. To pay (a plaintiff) to settle a lawsuit out of court.
5. To bribe.
6. Nautical To turn or cause to turn (a vessel) to leeward.
pay out
1. To give (money) out; spend.
2. To let out (a line or rope) by slackening.
pay up
To give over the full monetary amount demanded.
Idioms:
pay (one's) dues
To earn a given right or position through hard work, long-term experience, or suffering: She paid her dues in small-town theaters before being cast in a Broadway play.
pay (one's) way
To contribute one's own share; pay for oneself.
pay the piper
To bear the consequences of something.
pay through the nose Informal
To pay excessively.

[Middle English paien, from Old French paiier, from Late Latin pācāre, to appease, from Latin, to pacify, subdue, from pāx, pāc-, peace; see pag- in Indo-European roots.]

pay 2

 (pā)
tr.v. payed or paid (pād), pay·ing, pays
To coat or cover (seams of a ship, for example) with waterproof material such as tar or asphalt.

[Obsolete French peier, from Old French, from Latin picāre, from pix, pic-, pitch.]

pay down

vb
(Commerce) (adverb) to pay (a sum of money) at the time of purchase as the first of a series of instalments
References in classic literature ?
In spite of my riches I shall not, however, give up trade till I have amassed a capital of a hundred thousand drachmas, when, having become a man of much consideration, I shall request the hand of the grand-vizir's daughter, taking care to inform the worthy father that I have heard favourable reports of her beauty and wit, and that I will pay down on our wedding day 3 thousand gold pieces.
In fact my master was so difficult to deal with that I dared not on any account pay down the money at once.
Or else, what is much better, I deliver him up to King Charles, who, having no longer either a general or an army to fear, nor a diplomatist to trick him, will restore himself, and when once restored, will pay down to me the hundred thousand crowns in question.
A recent CIBC (TSX: CM) (NYSE: CM) poll revealed that of the 58 percent of Canadians who are due a tax refund, one in four intends to use the refund to pay down debt.
A new report released last week by the Filene Research Institute indicates that SaveUp, the first free nationwide rewards program that encourages Americans to save money and pay down debt, had a positive impact on savings behavior among those who participated in a six-month pilot study.
In a 4-1 vote, selectmen recommended Northboro's portion of the money be used to pay down debt on the project, rather than accepting a one-time payment that would reduce tax bills next year.
The next most effective strategy is to pay down high-interest-rate debts, particularly credit card balances.
In Hill's analysis of the governor's budget, she recommends that the Legislature not adopt that proposal, and instead pay down the reserve, or prepay other debt that is coming due in 2007-08 or 2008-09.
If you try to pay down the higher-interest cash-advance balance (which would seem the prudent thing to do), you might be surprised to find out that you are required first to pay down your balances on the regular, lower-interest transactions.
The companies, therefore, are using their healthy cash flow from their main lines of business to pay down debt in order to repair their balance sheets.
Net proceeds, which were used to pay down the company's unsecured line of credit, included an approximately $4.
This winter, $40 million is available to help struggling Chicago families pay down mounting bills, about the same as last year.