Advertisers tantalize people with their ads and TV commercials which flaunt every product imaginable and create a demand.
Very few citizens have unlimited finances even for the necessities so when they want the new car, vacation, the latest fad in clothing, they charge it.
The realization that the small payment is costing them up to 21% in interest each month and pushing up the cost of the product is not advertised and most people don't realize the reality until they are in debt over their heads.
The only answers are self-control and education by the government (that would mean they lose their sales tax) so we can forget about that
It's the whole instant gratification thing. Our society is catered toward it (drive thru fast food, drive thru pharmacy, pay at the pump, etc.). We want what we want and we want it now. Credit gives us the ability to have something right now instead of saving up for it. I don't know that the problem can ever be corrected because it's not just an education problem. It's a lack of patience thing, and it'll never change.
Hopefully the "Im doin a research..." portion of your question is just for us, because if you start a paper out like that...you may very well get a failing grade. This despite your best intentions.
Many people are in deep debt. Our Administration seems to be fond of borrowing billions of dollars and so I would say the answer to your question is Yes. However, personal debt is quite a different thing than say -- the National Debt. Many countries borrow money from the USA and fail to repay it. Do a search on these subjects and see what comes up. Good Luck.