Expat family lands up in vicious debt trap
Indian expat KM is a typical example of a dream gone very wrong.
Initially, their dream was safe. Her husband earned enough and even bought a property in Goa, after borrowing from a local bank and an Indian bank.
But once the recession hit, their lives changed in a horrible way. Her husband’s company shut down, he became unemployed and was forced to max out his credit cards to make ends meet.
Moreover, the local bank filed a case against the husband over non-payment of the monthly installments, which had stopped after he lost his job.
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