- consumer debt
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Debts incurred by an individual for primarily personal, family or household purposes. Taxes are not consumer debts; neither are business loans. The means test only applies to those with consumer debt. (Bankruptcy in Brief)Used to describe debts that are not fixed in right at the time, but are dependent on some other event happening to fix the liability. (Bankruptcy in Brief)Under Title 11 U.S.C. Section 101:(8) The term "consumer debt" means debt incurred by an individual primarily for a personal, family, or household purpose.
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.