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A debt trap occurs when a person borrows money and is unable to pay it back for a considerable amount of time. This circumstance leads to a growth in the amount owing as a consequence of interest charges, late payment fines, etc., which sets up the negative cycle of a debt trap.Being drawn into a financial trap may be very stressful, draining, and upsetting. Even while there are ways to break out of a debt trap, it's preferable to stay out of one.The proper balance between using a credit card when it's convenient and staying within credit limits must be found.Getting stuck in a debt cycle brings about a number of issues. Unpaid credit card balances can lower your credit ratings, making it more difficult to qualify for important loans like mortgages in the future. If you don't have a decent credit score, even when you can receive new loans, the cost of borrowing will probably be substantially higher. This is due to the fact that most loans start out with a percentage interest fee, and the lower your credit score, the more that interest will be.To avoid debt trap one should do the following measures: Understanding your DebtsThinking about Debt ConsolidationReevaluate your prioritiesBuilding a fund for emergenciesFor more information refer to: https://ccardsinfo.com/do-credit-cards-cause-a-debt-trap-or-not/