The term 'balance owed' is a financial term that refers to the amount of money that an individual or business owes to another party. The crossword solution for this term is 'DEBT, ' which is defined as money that is owed by one party to another. DEBT can be incurred through borrowing, buying on credit, or other financial transactions. In this case, the balance owed is the amount of money that is still owed after all payments have been made.