What is the term for modern slavery where individuals must work to repay a debt with no hope of freedom?

The term that specifically refers to the situation in which individuals are compelled to work in order to repay a debt, often with no realistic possibility of achieving their freedom, is known as debt bondage. This form of modern slavery creates a cycle of exploitation, as individuals may find themselves trapped in a situation where they are required to work for very low wages or even for free until their debt is paid off, which can often be manipulated by the creditor to extend the term indefinitely.

Debt bondage is particularly insidious because it not only involves the coercion of labor but also takes advantage of economic vulnerabilities. Individuals often end up in such situations due to limited financial options, making it difficult for them to escape the cycle of debt and servitude. This distinguishes it from other terms related to modern slavery, highlighting the specific nature of the obligation to repay a debt as the means of control.