Debt: What It Is, How It Works, Types, and Ways to Pay Back
Jun 28, 2025 · Debt is a financial obligation that must be repaid. In the modern world, a debt may be a large sum of money borrowed for a major purchase and repaid over time with interest. …
What Is Debt? (2025) | ConsumerAffairs®
Jun 19, 2025 · “The term ‘debt’ means any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services which …
What is debt? Definition, types and more - Capital One
May 17, 2023 · Key takeaways The Consumer Financial Protection Bureau (CFPB) defines debt as money someone owes to another person or business. Some of the main types of debt …
What is debt? Here's how it works and the common types
Mar 4, 2024 · In short, debt is the money you owe to someone or something. It's money that you borrowed and must pay back, according to the Consumer Financial Protection Bureau.
Debt - Wikipedia
Debt is an obligation that requires one party, the debtor, to pay money borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, …
What Is Debt? - Ramsey
Aug 27, 2025 · “Debt is a financial liability or obligation owed by one person, the debtor, to another, the creditor.” 2 In other words, debt is when someone borrows money (a debtor) and …
Debt Explained - consumer.gov
Debt is when you owe money to someone, like having a loan or a credit card balance. If you can’t pay back your debt, there are things you can do to help yourself.