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One very real consequence, true of all 9 debt types, is missing from the list. What is it, and why is it such a large concern?

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Debt can include a loan to help you buy a house, car, or new kitchen, or money towards your education, as well as credit cards to help you spread the cost of big expenses or build your credit score.

However, not all debt operates in the same way and it is important to understand the differences before you pen an agreement on how you pay off your debt, how long you have to do so, to how much it will cost, and what happens if you can’t afford to meet repayments.

9 debt types

  • Secured and unsecured debts
  • Credit cards
  • Personal loans
  • Student loans
  • Mortgages
  • Car finance
  • Overdrafts
  • Buy now pay later

Therefore, the one that is missing is the interest-free loan.

Interest-free loans

Interest-free loans are subsumed under personal loans that come with special terms that let you borrow money without the added cost of interest. Sometimes these loans have specific borrower requirements tied to what you use the loan for. The danger is that if you cannot repay, what you use the loan for maybe taken from you.

learn more about debt types: https://brainly.com/question/21107102

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