The percent of disposable income that consumers have to pay for their debt is called:

Question

Quizplus · Accepted Answer

Debt service is the percent of disposable income that consumers have to pay for their debt. This is the amount of money that goes towards paying off debt each month, such as credit card bills, car loans, or mortgages. It is an important metric for individuals and households to track, as it can impact their overall financial health and ability to save for future goals.

The Percent of Disposable Income That Consumers Have to Pay