Consequences of landing oneself in debts

Being in debt is becoming more and more of a modern conditions as credit facilities are prevalent. Years of economic boom globally wil encourage spending beyond earnings. This has resulted in severe problems for the individual who finds himself in a cylce of debts.
Greatest problem of being in debt is that the repayment of the debt nevere seeems to be at hand. The more u pay off, the more the debt remains looming.Interest chraged on the debts may seem staggering, particularly if the principal amount is large.
Being in debt can also be terrible to one's self esteem. there is a debilitating erosion of confidence and independence is one is practically harnessed to your creditor. You find yourself working non stop to pay off the debt. You are not free to do what u want because paying the debt is always ur first proiorty.

To be continued.....