Top 3 Things To Know About Consumer Debt

Consumer debt is the sum of money that consumers borrow for their personal use or for household consumption.

The major kinds of consumer debts are credit card debts, student loans, auto loans, mortgages and home loans, payday loans, etc.

The way you apply for a consumer debt depends on the bank where you applied for the loan. A consumer debt can be revolving or non-revolving in nature.