Hyderabad techie pays ₹47 lakh for ₹15 lakh loan, seeks police help after harassment
HYDERABAD: A 40-year-old software engineer from Quthbullapur has approached the police alleging that two loan applications extorted huge sums from him through harassment and coercion. He claimed he was forced to repay more than ₹47 lakh against loans of just ₹15.9 lakh.
In his written complaint, Vasimalla Ashok, a B.Tech graduate residing at Sai Harsha Arcade in Rukmini Estates, said he borrowed from Velocredit and GoldPokket apps. According to him, these platforms demanded repayment within seven days of disbursal. When he failed to meet the deadline, their representatives allegedly accessed his phone data and began circulating explicit images to his personal contacts.
Ashok said this caused him immense humiliation and emotional stress. “I could not share this with my family or friends. I had already crossed my limits and kept borrowing further only to escape the harassment,” he stated in the complaint.
Dues cleared through digital apps
The complainant said he settled all loans through digital platforms such as Google Pay, PhonePe, Paytm, MobiKwik and the ICICI mobile banking application. Despite this, the harassment continued. He said the experience shattered his financial independence and left him in deep distress.
According to Ashok, he took loans amounting to ₹15,97,890 but ended up paying ₹47,35,531, suffering a loss of ₹31,37,641. “The loan apps exploited my financial weakness at a time of need, and this has now put my life at risk,” he said, requesting police protection.
Police begin verification
Police confirmed that the complaint had been received on September 21, 2025. Officials said the allegations were under verification and further action would be initiated based on the findings.
The victim has urged police to take legal action against Velocredit and GoldPokket, which he alleged had trapped him in a cycle of debt and humiliation.sought protection, claiming a threat to his life.
Police said they had received the complaint and were verifying the details.
Image Credits: Freepik
