Not managing your debt wisely can result in:

Not managing your debt wisely can result in several negative consequences, including:

1. High Interest Payments: Accumulating debt often leads to high interest payments, which can significantly increase the total amount you owe over time.

2. Credit Score Damage: Failing to manage debt can lead to missed or late payments, which negatively impact your credit score. A lower credit score can make it more difficult to obtain loans or credit in the future.

3. Increased Financial Stress: Carrying a large amount of debt can lead to stress and anxiety, affecting your overall well-being and mental health.

4. Limited Financial Flexibility: High levels of debt can limit your ability to make other financial decisions, such as saving for retirement, buying a home, or investing.

5. Potential for Bankruptcy: In extreme cases, mismanaging debt can lead to bankruptcy, which has long-term financial and legal consequences.

6. Legal Action: Creditors may take legal action to recover the money owed, which can result in wage garnishments or liens on property.

By managing debt wisely, you can avoid these pitfalls and maintain a healthier financial situation.