Why can Excessive Growth in Credit + Levels of Debt seen as a Danger Sign for an Economy?

-Cheap Credit + Confident Consumers leads to more Spending and thus Accumulation of Debt -AD can thus rise, and Inflation can follow through. To deal with Inflation, Interest Rates rise, meaning Firms may delay Investment Projects and become Cautious, which may begin a Spiral into Recession -Furthermore, Higher Debt levels can make Consumers slow down their spending Greatly if they lose any confidence for any reason, due to fears of being Unable to pay off their Loans. Also means they'll spend Less in the Future, because they will be paying off the Debt + Interest (which would be higher!)