Here are some tips on how one can get out of debt
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The Covid-19 pandemic and the resulting lock down last year meant that many people could not work or lost their jobs. This meant that those who had taken out loans to fund their businesses found themselves in a position where they were unable to repay as they did not have a source of income. In other cases, people just took loans so as to survive during these hard economic times and were unable to repay them.
Defaulting on a loan means one gets listed on the Credit Reference Bureau something which messes up your credit score and ensures that you can’t access more loans in the future till one repays. However, even if you find yourself in such a situation, don’t despair, all you need to do is come up with a debt repayment strategy which will ensure that you are debt free within no time.