Being in debt is not always a bad thing, a large percentage of people rely on credit and loans to fund their lives, it allows people to purchase things without saving for them and it gives people monthly financial flexibility. Problems arise when debt isn’t managed well or when people borrow beyond their means, when this happens it often starts a cycle of debt where these people borrow more to compensate for old debt payments and interest. Very quickly mountains of debt can emerge that you simply cannot pay back, if you find yourself in such a situation then here…