What is another word for installment debt?
Pronunciation: [ɪnstˈɔːlmənt dˈɛt] (IPA) 
Installment debt, which refers to debt that a borrower repays in small, regular payments over a set period, has many synonyms. One such synonym is "consumer debt," which specifically refers to debt accumulated by individuals for personal purchases and expenses. Another synonym is "instalment credit," which can include both personal and commercial loans repaid in installments. Additionally, "fixed payment loans" and "term loans" are other ways to describe installment debt. Overall, these synonyms all refer to the same type of debt and highlight the importance of responsible borrowing and repayment schedules to ensure financial stability.
