Credit refers to money, goods or services offered with payment occurring over a period of time. Credit cards, auto, store cards, personal loans and mortgages are all common forms of consumer credit. Generally if credit is not paid off within the specified period of time, interest and/or a late fee is charged on the outstanding balance. Repayment of credit along with the interest charge depends on the type of credit taken. The number of people in US with unmanageable debt in their lives has increased significantly. Debt presents itself in a variety of different ways, and everyone can encounter being in a debt situation at some point in their life time.