A debt trap is a situation in which you owe a huge amount of money to different people or institutions. You take more loans to pay off previous loans, and this cycle of taking and paying loans never seems to end. If you notice any of the signs that indicate you are getting into a debt trap, be alert and use a personal loan for debt consolidation to overcome the situation. Let?s find out how a personal loan can help in getting out of a debt trap.
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