KUALA LUMPUR: The number of Malaysians under 30 years old declared bankrupt from January to September 2017 due to credit card debts declined to nine individuals compared to 22 last year.
Deputy Finance Minister, Datuk Othman Aziz, said one of the major causes of bankruptcy among younger generation due to credit card debt was the use of credit cards in excess of their capabilities.
From 2014 to 2016, the average number of the younger generation declared bankrupt was only 1.1%. The majority of the individuals who were bankrupt due to credit card debts are individuals over 30 years old, he said at the Dewan Rakyat here today.
Othman said this in reply to a question by Datuk Sapawi Ahmad Wasali (BN-Sipitang) to Minister of Finance.
Sapawi wa…
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