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Lower cases of bankruptcy among millenials

Nov 13, 2017

There has been a decline in the number of bankruptcy cases among millenials.

The Finance Ministry says only 9 Malaysians under the age of 30 were declared bankrupt for the period up to September this year. 

The Ministry says, there was an improvement in the figures over the past three years, with 12 cases in 2014, 17 in 2015, and 22 last year. 

It says an average of 1.1 percent of youth declared bankruptcy due to credit card debt, and a majority of them were below 30 years old because many tend to spend beyond their means.