Very few people go through life without using credit. We use credit for everyday expenses or to make more substantial purchases such as a home or vehicle. We obtain this credit with the full intention of repaying it. And often, the more credit we have, the more we can get. Although it's extremely beneficial to our way of life, obtaining too much credit can lead to difficulties. When unexpected things happen in life, such as unforeseen medical expenses or unemployment, we may find ourselves in a situation where we have more debt than we can repay. Nobody wants to end up with these financial challenges, but many people do.