Lifeline Debt Solutions
Debt Counselling, debt help, debt counsellors
What is a Debt Trap?
Basically a Debt Trap is when you start using new debt to pay for debts you already have, or other expenses. For example, taking out a short-term, unsecured loan to cover a credit card payment or to buy daily necessities like groceries, because all of your income has been tied up servicing other debt.
As time goes on you get trapped into a cycle of using one debt to pay off another, ultimately sinking deeper and deeper into the debt trap until it seems like there is no way out.
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