To some the word “debt” is one of those four letter words we should try to avoid, or find ourselves in, however the reality of debt, and being in debt is almost inescapable.

There will always be the debate as to what is good debt and what can be considered bad debt, but the facts are, most of us will spend a large part of our lives in debt. Which depending on your feelings about debt, is not a bad thing.

The only time debt becomes a bad thing is when you can no longer afford to repay the debt you have. Then debt takes on a sinister side.

When you think about it, most of us will experience debt for a large part of our lives.

If you take out a mortgage loan to buy a property, that can mean 10 years or more of being in debt.

If you use a credit card to make purchases online or in stores, if you do not pay off the entire balance each month, you are in debt.

Buy a car on Hire Purchase or via some form of car financing, you are in debt.

Debt is everywhere, it surrounds us in some form.

However, debt is still considered a bad word.

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