luottokierteitä
Luottokierre, often translated as a debt spiral or credit trap, refers to a situation where an individual or entity accumulates debt at a rate that makes it increasingly difficult to repay. This typically begins with taking on a manageable amount of debt, but unforeseen circumstances such as job loss, unexpected expenses, or a downturn in economic conditions can lead to a struggle to meet repayment obligations.
As payments become difficult, individuals may resort to taking on new debt to cover existing obligations. This
The cycle continues as the borrower finds themselves unable to escape the growing debt burden. Interest accrues