English translation: condonation/cancellation/write off of the debt representing/originated in interest
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:
condonación de la deuda por intereses
condonation/cancellation/write off of the debt representing/originated in interest
Explanation: The Eighth Deluxe Edition of Black's Law Dictionary has the following definition:
Remission: A cancellation or extinguishment of all or part of a financial obligation; a release of a debt or claim.
The following websites have the following paragraph in context.
Pay off higher-"interest debt" first. If you're using a debt repayment plan, pay off debt with the highest interest rate before all others. (Be sure to maintain scheduled debt payments on other borrowings, however.) Make a table of your debts, ranked in descending order by the effective interest rate.
Credit cards can be convenient — and expensive. Annual interest rates on credit cards currently average about 18 percent. How much interest do you pay each year? Wouldn't you rather keep that money? If you reduce your high-interest debt, you can have more money to save and invest
Dumping an old, high-interest debt
bankrate.com/brm/news/DrDon/20061221_debt_restructure_refinance_a1.asp - 74k - Cached - More from this site ... advises a reader who has an old debt he's paying 13.5 percent on and wants to refinance. ... Dumping an old, high-interest debt. Ask Dr. Don by Don Taylor, Ph.D. ...........
Hope this helps.
18 years of Spanish to English translation experience in the Mexico City accounting, auditing, tax, banking, financial community, et al.