Debt bondage has been defined by the United Nations as a form of “modern day slavery.

Debt bondage (or bonded labour) is when a person pledges themselves against a loan using their labor or services to repay the debt. 


The services required to repay the debt may be undefined, and the services’ duration may be undefined.
Debt bondage can be passed on from generation to generation.

Also in the economic system of accepted debt (loans given with interest rate, credit cards, mortgages) etc, can become debt bondages–which have led some people into the act of committing suicide, repossession of people’s goods, traumas, depression and mental disabilities caused by the harassment of the creditors etc. 



Human trafficking, child labour, sex trafficking, forced prosituition, are some of the physical status that the people who are under the oppression of debt bondage have to suffer.


Debt bondage was widespread in ancient Greece. Both enslavement for debt and debt bondage were practiced in Ptolemaic Egypt. By the Hellenistic period, the limited evidence indicates that debt bondage had replaced outright enslavement for debt.
Article written by Conscious lifestyle.