Category: Debt Management

Compound interest is the secret to building lasting wealth. By earning interest on your savings and then on that interest, your money grows exponentially over time.

Debt impacts finances and emotions. Learn how to manage debt stress, seek expert help, and create a plan to regain financial stability and peace.

In India, debt recovery is a complex procedure involving various players and methods. Banks, financial institutions, and private creditors have the right to pursue unpaid debts, often employing specialized agencies or in-house teams. These entities use a range of tactics, from gentle reminders to more assertive measures, but all methods must remain within legal bounds.

Making only minimum payments on unsecured loans might seem like a harmless way to manage tight finances during tough times, but this practice can quickly spiral into a debt crisis. By deferring most of the loan's balance and primarily paying interest, borrowers often find themselves stuck in a cycle of increasing debt. The emotional and financial toll of this approach can make it harder to regain stability, with consequences such as credit damage and legal repercussions. Recognizing the danger of minimum payments and seeking professional help are essential steps to prevent long-term financial harm.