installment debt (Meaning)
Wordnet
installment debt (n)
debt to be paid by installments
Synonyms & Antonyms of installment debt
No Synonyms and anytonyms found
installment debt Sentence Examples
- Installment debt, such as car loans and mortgages, allows borrowers to pay off their obligations gradually over time.
- The monthly installment amount is determined based on the principal balance, interest rate, and loan term.
- Installment debt can help consumers purchase large items that they may not be able to afford upfront.
- It is important to manage installment debt responsibly to avoid late payments or missed payments.
- High-interest installment debt, such as payday loans, can lead to a cycle of debt.
- Consolidating multiple installment debts can simplify payments and potentially lower interest rates.
- Installment debt can affect an individual's credit score, both positively and negatively.
- Regular payments on installment debt demonstrate creditworthiness and can help improve a credit score.
- Installment debt can have both financial and psychological impacts on borrowers.
- Understanding the terms and conditions of installment debt is crucial to making informed financial decisions.
FAQs About the word installment debt
debt to be paid by installments
No synonyms found.
No antonyms found.
Installment debt, such as car loans and mortgages, allows borrowers to pay off their obligations gradually over time.
The monthly installment amount is determined based on the principal balance, interest rate, and loan term.
Installment debt can help consumers purchase large items that they may not be able to afford upfront.
It is important to manage installment debt responsibly to avoid late payments or missed payments.
