pls answer this question soon
Attachments:
saurabh8741:
Ans- A situation in which a debt is difficult or impossible to repay, typically because high interests payment prevents repayment of the principal.
Answers
Answered by
2
A debt trap is 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. The traps are usually caused by high-interest rates and short terms.
Similar questions