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3,412 people settle RM130mil bank loans

GEORGE TOWN: Some 3,412 people under the Bank Negara Debt Management Programme (DMP) have collectively settled RM130mil of their outstanding bank loans, reducing the number of people under the programme to 89,450 at present.

Data from Insolvency Dept

IN our report 'Going bankrupt before 30' yesterday, it was pointed out that the data was provided by the Insolvency Department, and not by Bank Negara.

Household debts up average 16%

Household debts in the country grew an average 15.9% in the past six years, with outstanding (household) loans at RM394.8bil as at end-2006.