Is it permissible to sell a gift given to me by someone in order to pay off a debt I owe them?

It is permissible for the owner of a gift to dispose of it by selling it or using it to pay off a debt. The Prophet, peace and blessings be upon him, said to Aisha concerning the meat given to Barirah: "It was charity for her, but for us, it is a gift from her."