Question

What is debt trap?????? ​

Answer 1

Step-by-step explanation:

When the credit pushes the borrower into such a situation in which or where the recovery is very painful, this situation is called as Debt Trap....

Example:- A farmer takes loan from a money lender but due to crop failure he is unable to repay the loan back and wants to take another loan....

Answer 2

Answer:

A situation in which a debt is difficult or impossible to repay, typically because high interest payments prevent repayment of the principal. 'a new personal bankruptcy law aims to help individuals free themselves from the debt trap' More example sentences.

Step-by-step explanation: