Borrowers receive installment debt through a one-time lump sum payment of a fixed amount of money and pay it back through regularly scheduled installments. With revolving debt, instead of receiving a lump sum payment, borrowers get access to a line of credit up to a limit that they can borrow from at their own discretion and pay back at their own discretion as long as they meet specific repayment minimums described in their loan terms. For a specific example of the difference between the two types of loans, research the difference between a personal loan versus a personal line of credit.