I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?
Based on what i had read on a site, when we are in financial mess unable to payback the loans we have taken from several lenders, we for a debt consolidation. The loans and debt are taken together are considered as liability of the company.