Consumer debt consists of personal debts for goods purchased for personal or household consumption—as opposed to debts incurred for the operation of a business. Common examples of consumer debt include (1) credit card debt; (2) student loans; (3) home mortgage loans; (4) car or auto loans; (5) payday loans; (6) medical debts; and (7) unpaid utility and telephone bills.

In Kentucky, consumer debt is regulated by both state statutes and federal laws. Credit card debt, student loans, home mortgages, auto loans, payday loans, medical debts, and unpaid utility and telephone bills are all considered consumer debts when they are incurred for personal or household use. Kentucky's Consumer Protection Act provides a framework for addressing unfair, false, misleading, or deceptive practices in the marketplace. The state also follows the federal Fair Debt Collection Practices Act (FDCPA), which sets standards for the collection of consumer debts, prohibiting abusive, unfair, or deceptive practices by debt collectors. Additionally, Kentucky has laws that govern the statute of limitations on debt, which limits the time frame within which a creditor can legally sue a debtor to collect a debt. For example, the statute of limitations for credit card debt and other written contracts is typically 5 years, while it is 15 years for mortgage debt. It's important for consumers to be aware of their rights and obligations under these laws, and they may seek the advice of an attorney if they face issues related to consumer debt.