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what is debt trap\xa0 |
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Answer» It is a situation in which a person are in trap of loans.For example RAM takes loans from moneylenders on the basis of their needs and he cannot repay their laons so he take a new fresh loans from their family, friends,etc, and again he cannot repay the money to her friends so he are under a trap.This is known as debt trap. A situation in which a person not repay the payment and again he take loan to repay but not successful, than it is known as debt trap. Debt trap is when you add a new debt to repay the existing debt. 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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