The only solution I have seen work: Paying back text debt should be an integrated part of regular development rather than a separate task. When you change or add a new feature in an area of the code, you clean up tech debt in the area, at least to the level where it is better than it was before.
This also avoid "moving around deck-chairs"-refactoring since the refactoring are coupled to specific development tasks. You refactor to make implementing the task easier and cleaner - no more, no less.
If some area of code is "ugly" but works and don't need any functional changes, leave it be.
Scheduling tech-dept-payment separately runs the risk of getting de-prioritized. If a deadline is approaching or the company need to cut expenses, I'm sure the dedicated "tech-debt-payback" time is the first to get cut, "temporarily".
This also avoid "moving around deck-chairs"-refactoring since the refactoring are coupled to specific development tasks. You refactor to make implementing the task easier and cleaner - no more, no less.
If some area of code is "ugly" but works and don't need any functional changes, leave it be.
Scheduling tech-dept-payment separately runs the risk of getting de-prioritized. If a deadline is approaching or the company need to cut expenses, I'm sure the dedicated "tech-debt-payback" time is the first to get cut, "temporarily".