What is another word for non-mortgage consumer debts?
Pronunciation: [nˈɒnmˈɔːɡɪd͡ʒ kənsˈuːmə dˈɛts] (IPA) 
Non-mortgage consumer debts are financial obligations that are not directly tied to a mortgage - or any other form of secured borrowing - and pertain to items such as credit and store card bills, car loans, personal loans, and student loans. Synonyms for non-mortgage consumer debts may be described as unsecured debts, credits, or liabilities, which include money borrowed on credit cards or loans that do not require collateral as part of the borrowing agreement. These debts are typically paid off in monthly instalments or lump sums and can have varying interest rates based on the amount borrowed and the individual's credit rating. It is important for individuals to maintain a good credit rating if they aim to borrow in the future to prevent high-interest rates and unfavorable borrowing terms.
