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John Burnside

Different Kinds of Debt

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Consumer Debt

 

Consumer debt consists of debts that are owed as a result of purchasing goods that are consumable and/or do not appreciate.

 

Installment Debt: Debt you pay back over a set period-of-time

  • Car Loans
  • Student Loans
  • Appliances and other large household items

 

Revolving Debt: Debt you can carry forever

  • Credit Cards

 

Investment Debt

 

Borrowing to buy investments can be an effective way to boost potential returns

 

Family Mortgage

  • Bank or other Financial Institution

 

Business Venture/Real Estate

  • Take out a loan or line of credit
  • Bank
  • Private Lenders

 

Borrow against your home equity

  • Bank

 

Margin Loan

  • Brokerage Firm

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