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 New York State, consumer debt is regulated by a combination of 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. New York's consumer protection laws, such as the New York State Fair Debt Collection Practices Act, provide guidelines on how debt collectors can operate, prohibiting abusive practices and ensuring fair treatment of consumers. Additionally, the federal Fair Debt Collection Practices Act (FDCPA) also applies, setting standards for the collection of these types of debts nationwide. For mortgages, the New York State Department of Financial Services oversees lending and servicing, while auto loans are regulated under the state's Uniform Commercial Code. Payday lending is illegal in New York, and lenders are prohibited from offering these types of high-interest loans. Student loans are subject to both federal regulations and New York's student loan servicer licensing laws. Medical debts are collected in accordance with the FDCPA and state laws that prevent excessive collection practices. For unpaid utility and telephone bills, the New York Public Service Commission provides consumer protections against unfair utility service terminations.