This is Debt Slavery (or Debt Bondage)[1], and you are correct that it is a different thing to chattel slavery. However, it is still considered slavery. In particular, it is outlawed under international law under the "Convention on the Abolition of Slavery"[2]
This is Debt Slavery (or Debt Bondage)[1], and you are correct that it is a different thing to chattel slavery. However, it is still considered slavery. In particular, it is outlawed under international law under the "Convention on the Abolition of Slavery"[2]
[1] https://en.wikipedia.org/wiki/Debt_bondage
[2] https://en.wikipedia.org/wiki/Supplementary_Convention_on_th...