The money was applied to the payment of debts.

那笔钱被用来还债了。

《新英汉大辞典》

The unit of account for deferred payment of debts is also money.

延期偿清债务的结算单位也是货币。

youdao

The unit of account for deferred payment of debts is also money.

分期付款债务的计算机单位也是钱。

youdao

The report said the DfE had struggled to enforce payment of debts as the rules on academy sponsorship had changed.

BBC: Academies 'lack proper financial controls', MPs warn

No one would ever lose a penny: there would be no haircuts, no non-payment of such debts.

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The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.

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