The bible always warns us to be thoughtful about going into debt. You see many people have very little thought of going into debt.
Our tendency as people is to see the short term and not the long term. What is good today is often not good tomorrow.
This is the danger of debt: it assumes to know the future. God does not absolutely condemn debt, but he warns us to be thoughtful of debt.
In a sense any contract is a debt. We often sign this or that contract thoughtlessly locking ourselves into long term obligations.
God calls us to trust him, but not presume on the future. Trusting God to provide for the debt we choose is not trusting God as much as presuming on the future.
Often there is a time and a place for debt. But the bible cautions us that debt is far more of a burden and danger than we have a tendency to assume.