Skip to content
The El Paso

What is debt, and how do different types work?

What is debt, and how do different types work?
Photo: KVIA ABC-7 · view original

If you’ve ever taken out a loan or used a credit card to cover a car repair, you’ve created debt. Debt is money you borrow and agree to pay back, usually with interest. Debt can be a useful tool, and if you handle it responsibly, it could help you build a positive credit history. But if you don’t...

Sources and story details