Consumer Debt

What is it? Debt incurred for consumable or depreciating assets that arent considered investments. This includes credit card debt, store-financed consumer purchases, car loans, family loans that will be repaid, etc. It doesnt include routine bills paid monthly such as water, phone, and electricity. Nor does it include mortgages, home or business equity loans, home or business equity lines of credit, or stock margin accounts.

Added By: Layla

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We hope you now understand the meaning of Consumer Debt. If you need any more information on this term, please don't hesitate to contact us.