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[SpinningGurl]

My friend introduce to this agent that makes loan and consumer debt. What is consumer debt? And aside from credit cards, what are other common forms of consumer debt?

[SpinningQueening]

Consumer debt is outstanding debt of consumers, as opposed to businesses or governments. This is also a way to increase domestic production specially if the credit is still available. May consumers are borrowing financial finances and pay debts in high percentage within a high period of time.

[Awaketene]

The other types of consumer debts includes personal loans, installment plans, credit cards, etc. Most types of consumer debt can be devastating to household income over time specially if you weren't able to pay the amount of debt in due time because in short, consumer debt is a borrowed money to be used to meet individual consumption rather than investments.