Definitions for "Installment Debt"
debt to be paid by installments
a loan that you make payments on, such as an auto loan, a student loan or a debt consolidation loan
Debt to be paid at regular times over a specified period. Examples of installment debt include most mortgage and auto loans.
Liability that typically has a fixed interest rate, fixed term, and equal payments amortized over a set number of months, agreed upon by the lender and the borrower prior to disbursement.