Pay off overdue £1 charges (9)
I believe the answer is:
liquidate
'pay off' is the definition.
(synonyms)
I don't understand the remainder of the clue.
Can you help me to learn more?
(Other definitions for liquidate that I've seen before include "Get rid" , "Convert (assets) into cash" , "finish off" , "Waste" , "Take out" .)