A credit situation in which borrower (is unable to repay the loan and) has to resort to a fresh loan in order to repay the earlier loan is called: *
a) Debt trap
b) Collateral
c) Terms of credit
d) Currency
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Inability to repay a loan for a prolonged period leads to the ... The first one is that your Credit Score will take a beating. ... Analyse your situation and have a realistic estimate for when you can ... Also how much percentage can I pay to get NOC from the banks in order to be out of radar until I move abroad.
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Debt - Trap
is ur answer.....
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