consumer debt

Definition

Debt that has been incurred primarily for the purchase of consumer goods and therefore on which interest payments are not deductible (unlike mortgage debt).

Use consumer debt in a sentence

The consumer debt of the individual was high as they had taken out several credit cards and maxed them all out.

​ Was this Helpful? YES  NO 11 people found this helpful.

I have a significant amount of consumer debt - I have several credit cards with their limits maxed out and very high interest.

​ Was this Helpful? YES  NO 9 people found this helpful.

Shady Bank Incorporated was being investigated by the SEC for predatory lending because of their large ratio of consumer debt and mortgage foreclosures.

​ Was this Helpful? YES  NO 8 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
credit card consumer credit