- consumer debt
Debts incurred by an individual for primarily personal, family or household purposes. Taxes are not consumer debts; neither are business loans. The means test only applies to those with consumer debt. (Bankruptcy in Brief)Used to describe debts that are not fixed in right at the time, but are dependent on some other event happening to fix the liability. (Bankruptcy in Brief)Under Title 11 U.S.C. Section 101:(8) The term "consumer debt" means debt incurred by an individual primarily for a personal, family, or household purpose.
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.
Look at other dictionaries:
consumer debt — ➔ debt * * * consumer debt UK US noun [U] (also consumer indebtedness) ► ECONOMICS the amount of money owed by people for things they have bought but not yet paid for: »The Bank expressed concerns about the booming housing market and high levels… … Financial and business terms
consumer debt — see debt Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
Consumer debt — Finance Financial markets Bond market … Wikipedia
Consumer Debt — Debts that are owed as a result of purchasing goods that are consumable and/or do not appreciate. Possessing high levels of consumer debt is not typically beneficial for the average individual because it increases the strain on one s sources of… … Investment dictionary
Certified Consumer Debt Specialist - CCDS — A professional designation awarded by the Center for Financial Certifications to debt settlement professionals who pass a certification exam. Successful applicants earn the right to use the CCDS designation with their names, which can improve job … Investment dictionary
Consumer leverage ratio — is a term popularized by William Jarvis and Dr. Ian C MacMillan in a series of articles in the Harvard Business Review and refers to the ratio of total household debt, as reported by the Federal Reserve System to disposable personal income, as… … Wikipedia
Debt relief — is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and… … Wikipedia
Debt restructuring — is a process that allows a private or public company – or a sovereign entity – facing cash flow problems and financial distress, to reduce and renegotiate its delinquent debts in order to improve or restore liquidity and rehabilitate so that it… … Wikipedia
debt — n [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1: something owed: as a: a specific sum of money or a performance due another esp. by agreement (as a loan… … Law dictionary
Debt evasion — is the intentional act of trying to avoid attempts by creditors to collect or pursue one s debt. At an elementary level, this includes the refusal to answer one s phone by screening one s calls or by ignoring mailed notices informing the debtor… … Wikipedia