Some intentionally become bankrupt to pay lower rates for loans, says Insolvency Department

PETALING JAYA: The Insolvency Department says some individuals abuse their bankrupt status to avoid burdensome loan repayments for large debts.

Its director-general, Datuk M. Bakri Abd Majid, said these individuals would intentionally declare themselves bankrupt so that their loan repayments could be lowered, reported Sinchew Daily on Saturday (Jan 18).