Economy, asked by vreditz12345, 5 months ago

What is debt trap? Explain with an example.

V.R is in serious mood so pls don't post irrevalent answers.
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Answered by malayalikutti

8

Answer:

Debt Trap. 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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Answered by virendrakumra2424

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hope it will help you

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