Schulden haben

You use this phrase just like you would in English. Pair the noun Schulden with the verb haben. If the debt is big, add hohe. For example, Ich habe hohe Schulden. If you want to say who you owe, use the preposition bei. You might say, Ich habe Schulden bei der Bank. It is a plural noun, so always keep it as Schulden. Don't try to use the singular form for money. That would change the meaning to 'guilt.'

Use this when discussing your mortgage or student loans. It fits perfectly in a professional meeting with a consultant. You can also use it with friends. Maybe you forgot your wallet at a restaurant. Your friend pays, and you say, Jetzt habe ich Schulden bei dir! It is also common in news reports about national deficits. It is the most natural way to describe any red ink in a ledger.

Do not use this for social favors. If a friend helps you move, you don't have Schulden. In that case, use in deiner Schuld stehen. This implies a moral or social obligation. Also, avoid using it if you just haven't paid a bill yet. If the bill is just sitting there, you have an offene Rechnung. Schulden usually implies a more established state of owing money. Don't use it to mean you made a mistake, either.

Germans have a unique relationship with debt. The linguistic link between 'debt' and 'guilt' is famous. Historically, German culture values being schuldenfrei (debt-free). Many people prefer debit cards over credit cards for this reason. Carrying debt is often seen as a personal burden to be cleared quickly. It is not just a financial state; it is a moral one. This is why the phrase sounds quite serious in many contexts.

You will often hear Schulden machen. This means to 'make' or incur debts. If you are drowning in debt, you are hochverschuldet. To get out of debt, you use Schulden abbauen. If you want to say you are debt-free, say ich bin schuldenfrei. Another common one is Schulden begleichen, which means to settle or pay them off. These variations help you describe the whole lifecycle of owing money.