KUALA LUMPUR – A total of 5,272 youths below the age of 34 have been declared bankrupt from 2020 to this year, according to Youth and Sports Minister Hannah Yeoh.
She said that of the total, 5,189 were aged between 25 to 34, while 83 others were below 25.
Factors contributing to youth bankruptcy include business loans (1,148 cases), housing loans (474 cases), other forms of debt (463 cases), vehicle hire-purchase loans (444 cases), corporate guarantees (383 cases), income tax debt (110 cases), credit card debt (89 cases), failure to contribute to the Employees Provident Fund (77 cases), scholarships and student…
