A SINGLE act of blind trust plunged singer Ronnie Hussein into a 13-year nightmare that cost him his financial freedom.
The 47-year-old celebrity is one of several Malaysians opening up about surviving bankruptcy.
He cautioned the younger generation against keeping up with trends or peer pressure at the expense of financial stability.
The celebrity, whose real name is Shahron Hussein, said his ordeal began in 2012 when he agreed to an informal arrangement for a friend to use his new car and service the loan.
“He serviced the loan for few months, after which I could not contact him.”
Ronnie eventually discovered the car had been passed on to a third party, before it was repossessed and auctioned by the bank.
This left him with an outstanding debt of about RM50,000.
Ronnie said he never received any of the bank notices as he had move from Negri Sembilan to Johor.
“It turned out that I was sent several letters regarding my loan, and since I did not attend court hearings, I was declared bankrupt,” he told StarMetro.
Ronnie said life as a bankrupt came with many restrictions.
“If I wanted to travel overseas, I had to go to the Malaysian Department of Insolvency (MDI), fill in forms and even pay a bond, depending on where I was going,” he said, adding that it felt like his rights were taken away.
He was also restricted in managing his own finances and had to rely on alternative payment arrangements.
Despite the challenges, Ronnie said he remained committed to his obligations, making consistent payments with the assistance and guidance of an MDI officer.
“I followed the payment plan and paid consistently until I cleared everything,” he said, adding that he was officially discharged from bankruptcy last year.
Similarly, a family crisis led to financial ruin for singer and event manager R. Sukumaran, 66.
After his son lost his job in Singapore, the pair defaulted on a joint housing loan.
“Our house was auctioned off, leaving a shortfall debt of about RM109,000.
“It was a terrible situation where I could no longer maintain a bank account, apply for loans or even travel freely.”
However, Sukumaran said he remained disciplined and made monthly payments set by MDI and was relieved to be discharged from bankruptcy after 10 years in September 2024.
Online marketer Wong Choon Long, 47, was declared bankrupt eight years ago following a failed business venture where trusted employees betrayed him.
“The business was doing well, but my workers were taking most of the money for themselves without my knowledge.”
Wong said the skimming went undetected for three years and ultimately left him with RM200,000 in debt.
He sought help from MDI and the Credit Counselling and Debt Management Agency (AKPK).
“I committed to monthly repayments of between RM400 and RM800 while carefully rebuilding my finances,” he said.
“If you are in debt, don’t run away. Pay consistently every month, even if the amount is small,” he advised.
Wong urged others facing financial ruin to communicate openly with insolvency officers.
“They will guide you through the process,” he added, praising the supportive staff at the Johor MDI.
Wong successfully completed his repayment scheme after six years, and was officially discharged from bankruptcy.
Individuals facing severe financial distress or bankruptcy can seek direct intervention from MDI.
To initiate the process, applicants are required to fully disclose all details regarding their financial status and current income.
For those in Johor, the state MDI branch is located at Level 12, Menara Tabung Haji, Jalan Ayer Molek, Johor Baru.
Alternatively, the public can reach out to the department via its hotline at 03-8885 1000 or e-mail webmaster@mdi.gov.my for further information and guidance.
