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What are the types of debt?

There are many different types of consumer debts. The most common debts collected upon by debt collectors are credit card debts, medical debts, and student loan debts. There are others, such as personal loans, cell phone bills, utility bills, bank overdraft charges, auto loans, payday loans to name some more.

What is the total debt in the US?

In the first quarter of 2019, the United States' total public- and private-sector debt amounted to nearly $70 trillion , according to research by the Institute of International Finance. Federal...

What are debt obligations?

debt obligations. Loans, bonds, leases, and other debt instruments owed by a corporation. Debt obligations are carried on a company's books as a liability.

What is the legal definition of debt?

Legal Definition of debt. 1 : something owed: as. a : a specific sum of money or a performance due another especially by agreement (as a loan agreement) to pay the debts…of the United States — U.S. Constitution art.

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