consumer debt


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.

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

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

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credit card adjusted balance method