Rawalpindi man commits suicide over debt owed to online loan sharks

In the most shocking turn of events, a man hailing from Rawalpindi is reported to have committed suicide over a debt owed to online loan sharks!

The victim has been identified as a 42-year-old father of two, Muhammad Masood.

As reported, the deceased was unemployed and committed suicide after receiving ‘threats’ for non-payment of an alleged Rs 8 lakh taken through a loan application.

On the condition of anonymity, the wife of 42-year-old citizen Muhammad Masood said that her husband took a loan from two different loan applications, on which the loan of one application increased to more than 7 lakh rupees.

Masood who took a loan from the loan application ‘Easy Loan’ committed suicide after being fed up with the daily blackmail and increasing interest.

His wife said that her husband was fired from his job six months ago, which made it difficult to pay the children’s school fees and house rent.

She added that Muhammad Masood took a loan of Rs 13,000 from the ‘Easy Loan’ application to pay the children’s fees and house rent, which increased to Rs 1 lakh with interest on non-payment within a few days, including interest. To repay, he again took a loan from another application called ‘Bharosa’, which increased to 7 lakhs in a few weeks with increased interest.

The family members of the victim said that fed up with the threats from the moneylenders, he committed suicide by hanging himself with a fan, who has two children.

The wife further said that the loan application initially stated that Masood had to repay the loan with 14 percent interest but it was increasing day by day.

She said that due to the delay in payment of the loan, the applicant used to call and threaten them with police action every day, and the husband committed suicide because of this.

Masood’s brother Muzamil Hussain said that he has filed a report at the Racecourse police station regarding the suicide, even after his brother’s suicide, the loan app people are threatening him.

He demanded action against the application and said that Muhammad Masood has two children who have become homeless after the separation from their father.