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 Maryland, consumer debt is regulated by both state 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. The state follows the federal Fair Debt Collection Practices Act (FDCPA), which protects consumers from abusive debt collection practices. Maryland has its own debt collection laws as well, which complement federal regulations. For example, the Maryland Consumer Debt Collection Act prohibits collectors from engaging in certain abusive practices. The state also sets statutes of limitations on how long creditors have to sue for unpaid debts, which is generally three years for most consumer debts. Additionally, Maryland's Consumer Protection Act provides a broader framework to safeguard consumers against deceptive and unfair trade practices. For mortgages, the Maryland Mortgage Assistance Relief Services Act offers specific protections related to mortgage debt relief and foreclosure consulting services. Payday lending is heavily regulated in Maryland, with a strict cap on the interest rates that lenders can charge. It's important for consumers to understand their rights and obligations under these laws and to seek advice from an attorney if they face issues with consumer debt.