Bad debt is defined as debt that does not generate future income and is typically used to finance non-necessities, such as high-interest credit card debt, payday loans, and rent-to-own agreements.

Authors

• Person: Not available Organization: Champlain College
  Financial Rules of Thumb: Your Money Management Cheat Sheet

Sources

• Financial Rules of Thumb: Your Money Management Cheat Sheet www.champlain.edu Champlain College via serper

Referenced by nodes (2)

• credit card debt concept
• payday loans concept