Debt problems occur when individuals or organizations borrow more money than they can repay. This can lead to financial stress, as monthly payments may become unmanageable. High-interest rates on loans and credit cards can exacerbate the situation, making it difficult to pay off the original amount borrowed. When debt accumulates, it can affect credit scores, making it harder to secure future loans or mortgages. In severe cases, individuals may face bankruptcy, which can have long-lasting effects on their financial health. Seeking help from financial advisors or credit counseling services can provide strategies for managing and reducing debt.