Theoretical aspects of treatment of the essence of consumer creditation

The article provides a historical overview of representatives of various economic schools and concepts on the issue of the emergence of lending as an independent economic category, namely: classical credit theory: representatives of the classical school considered credit as a tool for redistributing capital between different sectors of the economy; Keynesian credit theory: John Keynes and his followers argued that an increase in lending can stimulate demand and investment, contributing to an exit from recession and emphasized the importance of the interest rate as an instrument of monetary policy; institutional credit theory: focused on the role of institutions in the functioning of the credit system; modern credit theories: behavioral and informational credit theories, taking into account the main psychological and informational aspects of credit relations in society. Theoretical approaches to determining the essence of consumer lending are highlighted, such as: economic approach: considers consumer credit as one of the types of credit characterized by a specific purpose; financial approach: focuses on the financial aspects of consumer lending, such as interest rates, lending terms, types of loans, etc.; sociological approach: investigates the impact of consumer lending on consumer behavior, their values, and lifestyle; legal approach: considers consumer credit as a legal category regulated by relevant legislation. The interpretation of the economic category "consumer lending" by domestic scientists is given, and the author's definition based on a combination of these terms is also given. The main features of consumer credit are described, including: subject composition, target purpose, form of loan provision, repayment terms, availability, flexibility of the product line, the possibility of early repayment, and the risk for the borrower in the event of untimely loan payment. The key characteristics of consumer credit are proposed, in particular: repayability; payment terms; urgency; target or non-target nature; secured or unsecured credit. Key factors of consumer lending are identified and grouped.