The Economic Times

Rs 5 lakh medical emergency led him into Rs 15 lakh debt: 3 warning signs of debt trap that get ignored, financial advisor explains

A financial advisor has shared the story of a Pune-based operations manager who saw his debt rise to over 15 lakh after taking a loan for his father's medical emergency. The case explains how one unexpected expense can trigger a debt spiral through rising EMIs, credit card debt and costlier loans, while highlighting three warning signs people should watch to avoid falling into the same trap.