This article offers a critical analysis of two popular theories developed to address why people get into debt beyond their means. The first one understands debt as the consequence of irresponsible behaviour, whereas the second sees it as caused by accident. Based on the situation of the youth inserted in neoliberal societies, this paper intends to establish links between social structures and the individual experiences of young people facing high levels of personal debt. Given the sustained increase in youth indebtedness, a proper characterization of over-indebtedness in this population segment becomes critical for elaborating adequate responses to address this issue. The inherent problematics associated with defining the concept of youth over-indebtedness reflect the practical importance of designing professional and social intervention policies.