We find ourselves in middle of nowhere when in debt and you can’t payoff. However there are always two types of persons, behaviour, feelings and so are debts. There is a good debt and there is a bad debt.
A good debt is when you are making an investment that will grow in value or generate long term income. But bad debt is something which draws more greed towards it. For example, if you want to buy a fancy dress and suppose you do it from your credit card and now you are not able to pay for the monthly instalment. It will keep increasing and one day the interest becomes much higher than the worth of that dress. Plus it won’t be in fashion anymore too. Therefore credit card debt are worst of all. It also works a little same as the student loan. If you are getting the loan for the wrong student who has no intention of giving it back to you after the studies then all in vain. Therefore debt isn’t worth it.