Meaning of “consumer debt” in the English Dictionary

business-english dictionary

"consumer debt" in Business English

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consumer debtnoun [ U ]

uk us 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 of consumer debt.
With consumer debt spiralling to epidemic proportions, we cannot just stand back and do nothing.

(Definition of “consumer debt” from the Cambridge Business English Dictionary © Cambridge University Press)