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What do u mean by debt …

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What do u mean by debt trap

Posted by Anushka ???? 5 years, 7 months ago

CBSE > Class 10 > Social Science

2 answers

Sandli __Thakur_✍?✍? 5 years, 7 months ago

debt trap is a situation in which a borrower is led into a cycle of re-borrowing, or rolling over, their loan payments because they are unable to afford the scheduled payments on the principal of a loan. These traps are usually caused by high-interest rates and short terms.

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Stranger?♋ Things 5 years, 7 months ago

A situation in which a debt is difficult or impossible to repay, typically because high interest payments prevent repayment of the principal.

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CBSE > Class 10 > Social Science