I am finally quits with the loan.
- to stop working, playing, etc.
- to stop being friendly or intimate; end an association
- to declare oneself even with another; agree to stop competing
Idioms and Phrasal Verbs
Origin of quits
- Middle English probably alteration (influenced by Medieval Latin quittus, quītus) (past participle of quītāre to free) of quit rid of a debt from Old French quiter quit
From American Heritage Dictionary of the English Language, 5th Edition