Debts of honor are those an individual owes to his peers, like those incurred while gambling. They are considered something more serious than debts owed to a bank or store owner because there is generally no legal backing to force the debtor to pay up – payment depends on his dependability and morality to do what is right. The fact that Mr. Wickham has such “formidable” debts of honor shows that not only is he irresponsible by excessively gambling, but also that he is of questionable character if he is making no efforts to repay these debts. Austen uses this fact to imply that welcoming Wickham into the family does not bode well for the Bennets, who he is likely to leach of off in a similar manner.
Source:
"Debt of Honour - Definition of Debt of Honour by the Free Online Dictionary, Thesaurus and Encyclopedia." Dictionary, Encyclopedia and Thesaurus - The Free Dictionary. Web. 19 Mar. 2010. http://www.thefreedictionary.com/debt+of+honour.
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