What is the Danger in being in Debt?

One of the dangers of being in debt is that if you keep pulling out loans or borrowing money you may pay them back but you'll be so use to borrowing getting loans. Sometimes when you get too many loans you have to pay an interest rate that means you have to pay more than what you need. Also if you get too many loans you may never be able to pay back all the money you borrow. Instead of having to retire in the future you'll be literally working until you die or until you pay off that huge debt you'll be getting yourself into .

It is dangerous because you might never get out of it. Then you'll have to file yourself in bankruptcy. Although it will help it will not be a picnic in the field. You may never get out of your debt because you'll just get use to borrowing money that you forget that you owe money so that's why you are then in debt.