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How interest rate changes affect debt ?
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[QUOTE="Ramolak19, post: 342299, member: 72962"] Anyway this repayment of debt may be directly impacted by changes in interest rates. The cost of borrowing money goes up when interest rates rise, which raises monthly payments for existing debt. This may put a pressure on available funds and increase the difficulty of repaying debt. On the other hand, debt becomes more affordable when interest rates drop, which may result in lower monthly payments and make it simpler to manage and pay off debt over time. [/QUOTE]
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