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Understanding Debt Harassment: A Modern-Day Crisis

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Understanding Debt Harassment: A Modern-Day Crisis Debt harassment refers to the persistent and abusive tactics used by creditors or moneylenders to recover borrowed money. This practice often includes physical intimidation, mental torture, threats, and illegal actions that push debtors to the brink of despair. The recent tragic incident in Chikhali, Pimpri Chinchwad , where relentless harassment drove a man to murder his family and attempt suicide, underscores the urgent need to address this escalating issue. What Happened in Chikhali? On January 9 , Vaibhav Hande, a 45-year-old debt-taker, allegedly killed his wife and minor son and attempted suicide after enduring years of harassment from moneylenders. Hande had borrowed ₹12 lakh in 2016 from four individuals at an exorbitant interest rate of 10% per month . Despite repaying ₹9.50 lakh , transferring 20 gunthas of land , and paying ₹4.50 lakh in interest , the lenders continued to pressure him for more payments. Hande, un...