Trapped in debt? Here’s how to get out of it

Once you get into the habit of using credit cards by paying the minimum amount, your free credit period is over. For all purchases from next month, you will be paying interest at the rate of 36-48% a year. Photo: iStockphoto Experts say debt usually has a major impact on emotions. Mounting debt can bring stress and unhappiness. However, the good news is if you deal with it systematically, you can get out of the trap sooner than you expected. If you are one of those who has been struggling…

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