India Against Toxic Debt-Trap! Powered by Freed!

Have you heard of EMI? Do you pay any? Or do you know anyone around you who is paying them? According to you, do EMIs make a person happy or not?

You might be surprised to learn that EMIs aren't as easy to pay as you think. Usually, people take personal loans or use credit cards and make monthly payments to the creditor for different products or services they purchase. They buy these products or services either for themselves or someone in their family. However, after a while, these EMIs have become a source of stress for the person paying them as well as their families. Something that was meant to make your life easy makes it more difficult. Have you ever thought about why? Has this happened to you too?

Often due to reasons like the loss of a job, a medical emergency, a business loss or other financial losses, the cycle of EMIs gets affected. To avoid the shame of being unable to repay the loans or monthly instalments, people tend to borrow more money in the hope that things will soon turn normal. We have all thought the same at some point in our lives. Haven’t we?

But things do not always go as planned. One challenge might follow another. The high rate of interest on different loans and credit cards makes things go out of control. It becomes hard to manage and keep track of how much needs to be paid and to which creditor or bank. You keep paying the interest while the principal amount remains the same. This actually happens! Has this happened to you? Would you want to be in a situation like this?

Nobody should be in a toxic situation where mishandled personal loans and credit card bills lead to toxic debts. FREED Care believes in helping people caught in toxic debt traps. The "toxic debt trap" refers to a situation in which you take one loan after another to repay previous loans or bills, resulting in a large number of unpaid loans. A "Chakravyuh" is created when you are left with loans everywhere you look and no money to repay them. Let us ask ourselves again: Do we want to be in a situation like this?

Obviously not, and neither does FREED. This is why FREED—India's 1st Debt Relief Platform—came into existence. It aims to help people live without loans while enabling them repay their debt.

No, FREED does not provide any loans or other kinds of financial help. FREED does not want to put you in the same situation from which it is trying to pull you out. Instead, FREED has launched a debt relief program under which it guides and helps you save your money, which will help you get out of toxic debt forever. This program will help you live a happy and peaceful life without worrying about pending EMIs! Interested?