Nonmortgage consumer debt refers to any outstanding balances that an individual may owe on credit cards, loans, or other forms of credit that are not related to a mortgage. Synonyms for this term include consumer debt, credit card debt, personal loans, installment debt, and revolving debt. Some other terms that may be used to describe this type of debt include unsecured debt, non-collateralized debt, and unsecured consumer loans. It is important for individuals to carefully manage their nonmortgage consumer debt to avoid accruing high levels of interest and becoming overwhelmed by their payments. Seeking guidance from a financial advisor or credit counselor can help individuals develop a plan to manage their debt and improve their financial situation.