Debt is an obligation that requires one party, the debtor, to pay money borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, local …

At CCCS of Rochester, we know how hard it is to face financial problems. Learn more about debt management, credit counseling, first time home buying, and more!

Jun 28, 2025 · What Is Debt? Debt is a financial obligation that must be repaid. In the modern world, a debt may be a large sum of money borrowed for a major purchase and repaid over time with interest.

Jun 19, 2025 · What’s the difference between good and bad debt? Good debt builds credit or equity. Bad debt drains your money without long-term benefit.

Dec 19, 2025 · Debt is money that is borrowed and then owed to a lender. If a debt is owed by an individual (rather than a business, for example), it's often simply called personal debt or consumer …

May 17, 2023 · Some of the main types of debt include secured, unsecured, revolving and installment debt. There are things to consider when taking on debt, such as how it could affect your credit and …

Mar 4, 2024 · In short, debt is the money you owe to someone or something. It's money that you borrowed and must pay back, according to the Consumer Financial Protection Bureau.