Case of being a bankrupt

READING reports about many Malaysians, especially young people, being declared bankrupt is both frightening and sad. These people do not realise that being declared a bankrupt is like being given a life sentence.

Even though they are able to discharge themselves later, the record of their bankruptcy will still appear in the systems of the credit information and rating companies, and this can create obstacles to those who need to secure loans to buy property or to open a business.