What is the term for the monetary amount that needs to be paid to settle a debt?

The term for the monetary amount that needs to be paid to settle a debt is referred to as the "Payment Due." This term specifically indicates the exact amount required to fulfill an obligation at a given time. It encompasses not only the principal balance of the debt but also any accrued interest, fees, or other charges that may be part of the obligation at that moment.

In practical terms, when a debtor receives a statement or reminder regarding their debt, the "Payment Due" sum reflects what they need to pay to remain in good standing or to eliminate the debt entirely. It is a clear and immediate figure that can be acted upon.

The other options do not appropriately capture this concept. The principal amount refers solely to the original sum borrowed, distinct from any additional financial responsibilities. The outstanding balance can refer to all money owed, which may not specifically mean the amount required to settle the debt right now. Lastly, the liability amount generally describes what a company owes in financial terms but is less precise in individual debt contexts compared to the specific term "Payment Due."