degear

verb4

1. •
   To reduce one's debt by selling off assets, especially those that were acquired with borrowed money.

   • Rather the reverse, for Bank of Ireland managed to degear the fastest and at the same time push its profitability up second fastest. — 1978
2. •
   To remove one's gear (special equipment).

   • He may spot jump (aim for a specific target), or water jump (the most dangerous: one is given 15 seconds to degear while in the water), or jump with a partner. — 1967
3. •
   To calculate the net value of assets after removing both debt and the projected cost of interest on borrowed capital.

   • If the project is viable on this degeared basis, then leasing is compared in price with other forms of borrowing available. — 1993
4. •
   To remove or disable the gears (transmission or interlocking gears).