Many borrowers are still faced with heavy debt burdens amid the coronavirus outbreak, with most having been pressured by diminishing income and lower debt-servicing ability.
In the wake of worsening economic conditions aggravated by the virus crisis, both regulatory bodies and financial institutions have implemented several debt relief measures to help borrowers overcome difficulty.
Borrowers who want to ease financial burdens can go to lenders asking for debt relief measures. If you cannot pay back loans under the existing conditions, you should visit the bank immediately before your unpaid loan is classified as a bad debt and subsequently branded with a bad…
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