😟 Feeling Like You’re Drowning in Debt?
EMIs piling up. Credit cards maxed out. No savings. Just stress.
If that sounds familiar, you’re not alone.
Millions of Indians are stuck in debt traps—and most think there's no way out.
But there is a way out.
And Vizzve Finance is here to guide you through it—step-by-step, without shame.
🕳️ What Is a Debt Trap?
A debt trap happens when:
You borrow money to repay older loans
Interest keeps piling up faster than you can repay
Your income mostly goes into EMIs
You’re left with no breathing space for emergencies
🔁 It’s a vicious cycle: Borrow → Pay Interest → Re-borrow → Repeat
🚨 Signs You’re in a Debt Trap
Paying minimum amount on credit cards
Using one loan to repay another
Constant late fees, bounced payments
Feeling anxious every time your phone rings
🛠️ 5-Step Action Plan to Break Free
✅ Step 1: List Every Debt You Have
Include:
Loan amount
Interest rate
EMI due date
Penalties (if any)
📲 Use Vizzve’s Debt Tracker Tool to see the full picture at a glance.
🔥 Step 2: Prioritize High-Interest Debt First
Credit cards and payday loans usually have the highest interest (30–45%)
Tackle these first while paying minimum on the others
💡 Vizzve shows you where you’re losing the most—and how to restructure smartly.
💳 Step 3: Avoid Taking on More Credit
Stop using your credit card for everyday spends.
Pause new loans—even if they look “low EMI.”
Instead, use Vizzve’s budget and goal-setting tools to cover expenses without borrowing.
🔄 Step 4: Consider a Consolidation Loan
Instead of juggling 4–5 different EMIs, consider combining them into one lower-interest Vizzve micro-loan.
Benefits:
Lower monthly payments
Easier to track
Reduced total interest
🧠 Step 5: Start a Bare-Bones Budget
Cut all non-essential spending temporarily:
Streaming, takeout, shopping, travel
Redirect that money toward debt payments
📊 Vizzve’s budgeting planner helps you prioritize needs over wants—and keep you on track.
📖 Real-Life Story: Ravi's ₹3 Lakh Credit Card Spiral
Ravi, 31, had ₹3 lakh in credit card debt across 4 banks.
He used Vizzve to:
Consolidate 3 cards into one personal loan
Automate his EMI + budget reminders
Save ₹18,000 in interest over a year
Now Ravi’s on track to be debt-free by year-end.
💼 How Vizzve Finance Can Help You Escape the Trap
Vizzve Gives You:
✅ Debt tracking dashboard
✅ High-interest warning alerts
✅ EMI reminders
✅ Smart budgeting tools
✅ Micro-loan restructuring
✅ Emotional support via goal-based wins
🧠 FAQs
Q1: What if I’m already late on my EMIs?
Talk to your lender—many allow restructuring. Vizzve can also help you find low-interest refinancing options.
Q2: Should I take a loan to pay off my debt?
Only if it reduces your total interest burden and EMI stress. Vizzve can help calculate if it’s a smart move.
Q3: Will this affect my credit score?
Late payments do, but restructuring and repaying steadily will improve your credit score over time.
Published on : 8th July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed.