Key Points
Let's examine indicators that may suggest you are on the path to a debt trap..
Additionally, besides fixed EMIs, one must consider the repayment of soft loans obtained from friends or family when evaluating financial obligations...
Borrowing for routine expenses to settle loans is unwise, and using credit cards for such purposes is a guaranteed method of encountering difficulties..
If repaying the credit card dues in full remains challenging, exploring the option of transferring the outstanding balance to a lower-cost loan is advisable...
While certain Non-Banking Financial Companies (NBFCs) extend loans to individuals with lower credit ratings, they typically impose higher interest rates..
