Consumer Debt

Definition

  • Debts incurred due to personal needs as opposed to business reasons.

Synonyms
non-business debt, debt of consumers, personal debt

Related Terms and Acronyms

  • Consumer Bankruptcy Definition,
    • A bankruptcy case filed to reduce or eliminate debts that are primarily consumer debts.
  • Consumer Credit Definition,
    • Loans for personal use as opposed to business or commercial lending. These loans are typically unsecured and not backed by collateral.
  • Consumer Price Index (CPI) Acronym, Important,
    • An index that measures movements in the average price of products and services typically consumed by Canadian families.
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