In Manila, the Philippines, Lance faces a barrage of threatening texts and missed calls every day, leading to financial distress. Despite losing his job due to COVID-19 lockdowns, Lance turned to online lending platforms to make ends meet. However, he soon found himself drowning in debt, owing close to one million pesos to multiple lenders. Many users like Lance feel trapped in a cycle of borrowing from one app to pay off another, leading to relentless harassment and threats from lenders. Despite the surge in popularity of loan apps during the pandemic, many users have fallen victim to exploitative practices, with some resorting to extreme measures to cope with the mental anguish caused by their debts. The lack of regulatory oversight has allowed predatory lending platforms to thrive, leading to calls for stronger action from authorities to protect vulnerable borrowers.
