### Question
Can you define what debt means?


### Answer
**Debt** is defined as the following in *15 U.S.C. § 1692a*:

> any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services which are the subject of the transaction are primarily for personal, family, or household purposes, whether or not such obligation has been reduced to judgment

#### Citation:
  - *15 U.S.C. § 1692a*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER V-DEBT COLLECTION PRACTICES**

