what is a Debt trap?
Answers
Answered by
19
HEYA !!!
HERE'S YOUR ANSWER !!!
_________________________
- DEPT TRAP -
It is a situation when a person is unable to repay his / her loans typically due to high rates of interests. It mainly effect the people of rural areas because they oftenly take loans from money lenders who adds high rates of interests. To prevent from these kind of situations a person should take loans from banks as they have low rates of interests.
It is almost impossible to get out of these kind of situations as the amount could be raised twice or thrice.
____________________
HOPE IT HELPED !!!
@ Anmol Balwal
HERE'S YOUR ANSWER !!!
_________________________
- DEPT TRAP -
It is a situation when a person is unable to repay his / her loans typically due to high rates of interests. It mainly effect the people of rural areas because they oftenly take loans from money lenders who adds high rates of interests. To prevent from these kind of situations a person should take loans from banks as they have low rates of interests.
It is almost impossible to get out of these kind of situations as the amount could be raised twice or thrice.
____________________
HOPE IT HELPED !!!
@ Anmol Balwal
Answered by
4
Answer:
hi
Explanation:
same as above I am also Anmol
Similar questions