What is debt-trap?

What is debt-trap?
Wildrosebeef Business & Finance Supervisor
Debt Trap is a situation where you add on a new debt in order to pay an existing debt. Generally, when the firm or an individual is over leveraged all the credit sources are exhausted, the firm or individual arrives at a situation of debt trap.

What is debt?

Outstanding balance in your loan account or credit card account that remains unpaid beyond the due date. It's the debtor's obligation to repay such dues to the creditor.

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Is Bell trap a trap?

A bell type is used for storm catch basins but they are not fool proof when the water level falls below the crown weir and thus methane or other sewer gases can escape

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What is a pee trap?

  Answer   The drain under a sink when it goes thru the wall instead of the floor. If looked at from the side, it would look like a P.

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