A man in Rawalpindi has committed suicide after facing intense pressure and threats from the management of an online loan providing service app management and owners, his family said on Wednesday.
Relatives said 42-year-old Muhammad Masood had taken a loan worth Rs13,000 from an online app named ‘Easy Loan', which trapped him in a vicious cycle of extreme interest. His family said that within a span of just three weeks, Masood's payable to the company had skyrocketed to Rs50,000.
When he found himself unable to pay back the sum, Masood succumbed to the pressure and hung himself from a ceiling fan.
Masood’s wife said that her husband had lost his job six months ago and took a loan from the online loan app to pay rent on their house and tuition fees for his children.
She said that a week later, the loan management started threatening her husband. Within three weeks, they raised the payable amount to Rs50,000, she added.
Masood’s brother has filed a first information report (FIR) for his brother’s aggravated suicide at Race Course police station. He said that the loan app management is still threatening them despite the suicide of his brother. He said that he will also file a complaint at the police station for the threats.
Relatives said 42-year-old Muhammad Masood had taken a loan worth Rs13,000 from an online app named ‘Easy Loan', which trapped him in a vicious cycle of extreme interest. His family said that within a span of just three weeks, Masood's payable to the company had skyrocketed to Rs50,000.
When he found himself unable to pay back the sum, Masood succumbed to the pressure and hung himself from a ceiling fan.
Masood’s wife said that her husband had lost his job six months ago and took a loan from the online loan app to pay rent on their house and tuition fees for his children.
She said that a week later, the loan management started threatening her husband. Within three weeks, they raised the payable amount to Rs50,000, she added.
Masood’s brother has filed a first information report (FIR) for his brother’s aggravated suicide at Race Course police station. He said that the loan app management is still threatening them despite the suicide of his brother. He said that he will also file a complaint at the police station for the threats.