chivel
Verb.
To pay off a debt in a smaller denomination of currency than the loan was originally made in, thus leaving the creditor with small change where he once had a note.
Often the small change, if accepted by the creditor, disappears on trivial purchases before the full loan is re-paid, meaning he never really recovers the debt's full worth.
To pay off a debt in a smaller denomination of currency than the loan was originally made in, thus leaving the creditor with small change where he once had a note.
Often the small change, if accepted by the creditor, disappears on trivial purchases before the full loan is re-paid, meaning he never really recovers the debt's full worth.