ET Wealth | How borrowers can become debt-free

As the moratorium draws to an end, banks have started their collection efforts. Borrowers who opted for the relief now face an even bigger burden. Banks might restructure loans, but won’t waive the interest dues. They are now more picky about who they lend to. Many borrowers might find that even if their credit score was intact, lenders are not entertaining their loan requests or charging a much higher rate of interest.Those with multiple loans