👉 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
