Consumer credit is a debt that someone incurs in order to purchase goods or services. This includes purchases made on credit cards, lines of credit and some loans. It’s the amount of credit used by a consumer to purchase non-investment goods or services that are used and whose value depreciates quickly. This excludes debts taken out to purchase real estate or make investments.
Here on LawServer you’ll find relevant federal and state laws about consumer credit generally, and related legal Questions & Answers.