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 Maine, 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 for personal or household use. The Maine Consumer Credit Code (Title 9-A M.R.S.A.) provides specific regulations on consumer credit transactions and outlines the rights and responsibilities of both creditors and consumers. This includes provisions on disclosure, credit terms, and debt collection practices. Additionally, the Fair Debt Collection Practices Act (FDCPA), a federal law, protects consumers from abusive debt collection practices and applies to the collection of these types of debts. Maine also has laws that govern the statute of limitations on debt, which limit the time frame within which a creditor can legally sue a consumer to collect a debt. For example, the statute of limitations for credit card debt in Maine is generally 6 years. It's important for consumers in Maine to be aware of their rights under these laws, especially when facing debt collection efforts or considering taking on new consumer debts.