👉 In economics and finance, "reindebted" refers to someone or something that owes money back to a lender. This is typically done due to an inability to pay back the loan on time, or because the borrower has become unable to repay their debt by reason of illness, unemployment, disability, or other unforeseen circumstances. In this context, "reindebted" can refer to a situation where someone is in financial distress and requires assistance from the lender to pay off their debts.
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What is the definition of Reindebtedness? 🙋
👉 Reindebtedness, also known as "debt bondage," is a concept where individuals or entities are financially dependent on others and cannot afford to repay their debts. It can refer to financial obligations such as loans, mortgages, credit card debt, or other types of debt. This dependence often arises from either personal circumstances (such as illness, unemployment, or divorce) or external factors like financial crises or economic downturns. Reindebtedness is characterized by a lack of control over one
