Debt: What It Is, How It Works, Types, and Ways to Pay Back Debt is something, usually money, owed by one party to another Debt is used by many individuals and companies to make large purchases they could not afford under other circumstances Debt must be
What Is Debt? (2025) | ConsumerAffairs® What’s the difference between good and bad debt? Good debt builds credit or equity Bad debt drains your money without long-term benefit