People who are lured by credit cards or other types of credit and get to the point where they have such large outstanding balances that they will never get out of debt fall into

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Perma-debt refers to a situation where a person has accumulated so much debt that they are unable to pay it off and remain in debt for an extended period of time. This is a serious problem that can have long-term consequences for a person's financial health. It may be caused by overspending, lack of budgeting or financial planning, or relying too much on credit to make ends meet. It is important to seek help and take steps to address perma-debt in order to avoid further financial difficulties.

People Who Are Lured by Credit Cards or Other Types