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Installment Debt |
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Installment Debt Debt issued with the condition of regularly occurring intervals for payment by the debtor, until the principal and interest are paid in full. Notes: Generally, this type of debt provides for financing the larger items that corporations and individuals don't have the necessary cash available to purchase. |
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? Mentioned in | ? References in periodicals archive | |
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| For 1977, percentage of families with closed-end installment debt outstanding; for 1981, 1994, and 1997, percentage of families that had incurred closed-end installment debt in the past year; for 2001, percentage of holders of bank-type credit cards who had acquired a new card in the previous year. Michael Zimmerman, MGIC vice president for mortgage banking strategies, said homeowners are using today's relatively low mortgage rates to consolidate their installment debts into a single tax-deductible monthly payment. About 60 percent of the nation's 100 million households carry some form of installment debt, The Conference Board said. |
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Installment Debt
