installment credit such as real estate loans versus noninstallment
credit) is also an important factor that should be considered when making lending decisions (Chien & DeVaney, 2001).
credit requires consumers to pay their balance in full every month.
Long-term corporate debt + Total individual and noncorporate debt - Farm production loans - Noninstallment
consumer credit outstanding.
Also, there is little research that considers both installment and noninstallment credit.
The two major forms of consumer credit are installment and noninstallment credit.
One portion of this survey gathered data on the "most common" rate on small, short-term, noninstallment
2 There is also noninstallment
consumer credit, which consists mostly of short-term credit such as charge card balances that need to be paid in full within the billing cycle.
Entering into a binding contract to receive payment in a year other than the year a noninstallment
sales transaction is completed may avoid application of the constructive receipt doctrine in the transaction year.
Since 1980, private debt, including installment credit, noninstallment
debt and home mortgages, has almost doubled.
Consumer debt has two components: consumer installment credit, which covers most nonmortgage loans to consumers repayable in two or more payments, including automobile loans, credit card debt, personal cash loans, and sales finance contracts; and noninstallment
consumer credit, mostly very short term credit such as bridge loans sometimes used to facilitate real estate or other transactions.
While standard definitions exist for installment and noninstallment
debt, the treatment of debt by government data bases at the macro level has led to inconsistencies when terms are used in developing household analysis (Toal 1986).
Consumer debt has two subcategories: installment (repayable in two or more payments) and noninstallment
debt, with the installment component accounting for 90 percent of the total.