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What, exactly, is an installment debt?

April 26, 2017debt installment

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What, exactly, is an installment debt?

1 Answer

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Posted

An installment debt is a loan that you make payments on, such as an auto loan, a student loan or a debt consolidation loan. Do not include payments on other living expenses, such as insurance costs or medical bill payments. We’ll include any installment debts that have more than 10 months remaining when determining your qualifications for this mortgage.