There are many problems incurred as a result of debts.
Once people realize that you are in financial difficulties, they all turn against you making you feel more frustrated.
Your family members could likely misunderstand your situation, leading to chaos which could eventually break your marriage.
You could easily become crazy since almost all your earnings is used to pay off the bills.
As time goes by, life becomes hard and you are finally forced to file for bankruptcy or even consolidate your debts.
On the other hand, your creditors will not give you a peace of mind.
Some of them will threaten to sue you, others will insult you through phone calls and even send warning letters.
A collection agency could also use abusive language at the same time threatening to take action.
They could easily mislead you especially if you do not know your rights regarding your creditors.
Sometimes, when problems are too much to bear, most people involve themselves in bad virtues such as alcoholism, drug abuse or even robbery.
This could easily make you loose your job or sell some of your assets and misuse all the money.
Your behavior could affect the life of your children, especially if you are their only source of income.
Although you might get debt consolidation loan, the interest charges could be high hence increasing your bills.
Those companies will just do their business and make profit without caring about your bills and what time you will take to clear them off.
The best solution to end all your problems is to have a personal repayment plan through a free counseling program.