Loan Apps: Mayadari’s loan app took his life.

Loan Apps: There is no paper work, no need for CIBIL score, no need for actual physical requirement.. Just by downloading an app on the smartphone, money will be deposited into the account within ten to ten minutes. But payback time will show you what hell is. This is the trick of Mayadari loan apps. They are stealing people’s lives by charging double the amount of the loan taken with compound interest. Is there a delay in paying the debt by mistake? That’s it. Many people committed suicide because they could not bear this torture.

The number of loan app victims is increasing in two Telugu states. Many people have taken their lives because they could not pay the debt and could not bear the torture of app administrators. A recent such heartbreaking incident took place on Saturday in Nandyal, Andhra Pradesh. Unable to bear the harassment of loan app administrators, Virendra, a B.Tech student committed suicide. If we go into the details..Virendra, who lives in Balaji Complex in Nandyala, is studying B.Tech second year in an engineering college in Bangalore. In this background, he recently took a loan from an app. Due to delay in repayment, administrators started to torture. They made phone calls from the app to relatives and friends saying that they have to pay the loan.

Not stopping at that, he morphed Virendra's photo.. 'This person took a loan from our company and did not pay it. Gave your number as reference. Now you have to repay the loan. Otherwise we will arrest you' and sent messages to Virendra's friends. Feeling humiliated by this, Virendra hanged himself at home on Saturday. The father complained to the police station that his son committed suicide due to app harassment. The police registered a case and started investigation.

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