Amortize

verb: to diminish by installment payments

While college students are notorious for accumulating credit card debt, they are not as well known for amortizing it.

I try to amortize my car loan dept, by paying $275 per month.

Synonyms: conviviality

I amortize my  credit card debt by making a payment every month.  It still seems like years until it will be paid off.

If I did not have to amortize my debt I would not have such a tight financial situation.