Consumer Debt

Definition

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

Synonyms
debt of consumers, non-business debt, 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.