4. “Debt Trap" is a situation when
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A 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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it is a Situation when a borrower is unable to pay previous loan and Takes a new loan.
eg: Paul has taken a loan to pay fee of his son. and he's unable to pay the loan and takes 2nd loan to pay fee
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