Most bankruptcy cases involve those aged 35 to 45, mainly due to failure to settle HP loans, credit card debt, personal loans and housing loans.
PUTRAJAYA: A total of 294,000 Malaysians are currently embroiled in bankruptcy cases due to their failure to settle hire purchase loans, credit card loans, personal loans, housing loans and social guarantor debts (due to errant debtors), says insolvency department director-general Abdul Rahman Putra Taha.
He said according to the departments statistics, 70% of bankruptcy cases involved individuals between the age of 35 and 45. He added that around 8,000 to 20,000 individuals were declared bankrupt for various reasons every year.
The individuals involved have been urged to come forth and fin…
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