Question

what is the debt trap​

Answer 1

Answer:

Debt trap is a situation where the debtor will not be able to repay the debt incurred.

Debt trap situation may arise due to the higher interest rates or change in terms and conditions of debt incurred.

Normally, debt trap will result in default of payments or bankruptcies

Answer 2

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Debt trap is a situation where the debtor will not be able to repay the debt incurred. Debt trap situation may arise due to the higher interest rates or change in terms and conditions of debt incurred.