Before a debt can be made, both the debtor and the creditor must agree on the manner in which the claim will be repaid, known as the standard of deferred payment. This fee is usually denominated as a sum of money in units of currency, but can sometimes be denominated in terms of goods. Annuity can be made in increments over a period of time, or all at once at the confine of the loan agreement.

Short of bankruptcy, it is light that debts are wholly or partially forgiven. Traditions in some cultures demand that this be done on a regular (often annual) basis, in form to avoid systemic inequities between groups in society, or anyone becoming Credit Card Debt a specialist in holding debt and coercing repayment. Under English law, when the creditor is deceived into forgoing payment, this is a crime: see Theft Act 1978.