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 South Carolina, 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 South Carolina Consumer Protection Code (Title 37 of the South Carolina Code of Laws) provides specific regulations on consumer credit transactions, including disclosure requirements, limits on interest rates, and other protections against unfair lending practices. Additionally, the federal Fair Debt Collection Practices Act (FDCPA) protects consumers from abusive debt collection practices and applies to the collection of these types of debts. South Carolina also has laws that govern the statute of limitations for debt collection, which limits the time frame in which a creditor can take legal action to collect a debt. For example, the statute of limitations for open-ended accounts, such as credit cards, is generally three years in South Carolina. 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.