I'm personally writing this as a victim of online harassment by lending apps, sparking not only personal distress but severe mental health challenges. This is an urgent call for stricter regulations on these platforms.

In my experience, lenders and debt collectors use inhuman and unethical tactics, creating a challenging and traumatic environment for borrowers. Unfortunately, this is a problem many face. A study by the Financial Conduct Authority found that 50% of adults show one or more characteristics of potential vulnerability, with online harassment being a significant cause (FCA, 2020). This figure shows that such behavior from online lending apps is destructive and widespread.

In some extreme cases, online harassment by loan apps drives individuals to drastic measures. In India, more than seven people have committed suicide in the past 30 days due to harassment and abuse from online lending apps (Times of India, 2021). This is a clear sign of the dire consequences borne out of such unchecked unethical practices.

Therefore, we urgently request regulators and policy makers to enforce strict measures on lending apps to stop online harassment. Such steps could include clearer guidelines on communication and collection efforts, regular audits to ensure compliance, and significant penalties for repeat offenders.

Together, we can prevent the infliction of harm and provide a safer environment for borrowers. Make your voice heard, stand for dignity and mental health - sign this petition today.