clearing-off

The company is clearing-off its remaining debt.

Definition

1. Noun:
   • The act of settling or paying off debts: "clearing-off" refers to the process of fully repaying outstanding financial obligations, such as loans or bills.
   • The act of removing or dispersing something: It can also mean the action of making an area or situation clear of obstacles, people, or unwanted elements.

Usage Examples

• Noun:
  • After months of saving, he made a final clearing-off of all his student loans. (He fully repaid his debts.)
  • The clearing-off of the crowd took several hours after the concert ended. (The dispersal of the people.)

Advanced Usage

• "clearing-off of debts": The specific process of eliminating financial liabilities.

  • The company announced a complete clearing-off of its outstanding accounts. (The full settlement of debts.)

• "clearing-off period": A designated time for settling accounts or removing items.

  • The bank offered a grace period for the clearing-off of overdrafts. (A timeframe for repayment.)

Variants and Related Words

• Clear off (phrasal verb): to leave a place quickly or to remove something.

  • The thieves cleared off when they heard the alarm. (They fled.)

• Clear (adj/verb): free from obstruction or debt; to remove obstacles.

  • The path is clear now. (Free of obstructions.)

Synonyms

• Settlement: the act of paying off a debt.
• Liquidation: the process of converting assets to cash to pay debts.
• Dispersal: the action of spreading or moving people/things away.

Related Idioms

• Clear off the slate: to start fresh by wiping away past debts or mistakes.

  • They decided to clear off the slate by forgiving all previous loans. (They forgave all debts to begin anew.)

• Clear the deck: to remove obstacles or prepare for action.

  • Let's clear the deck before we start the new project. (Remove hindrances.)