YOUNG CAREFREE & BROKE

THEY ARE YOUNG and carefree to the point of being careless, and have expensive tastes. Branded handbags, holidays to exotic places-

Fancy cars and lavish weddings, all lead them into huge debts. By the age of 30, they are bankrupt.

Some as young as 25 are among the shocking  60%  of the 94,400 people declared bankrupt in the last four years.

Petaling Jaya : They lived the fast life, a life of Pradas and Guccis. When the cash is out, they max out on their credit cards.

Some even go as far as taking up personal loans to finance overseas trips, buying the latest expensive gadgets and holding lavish weddings.

And before they even turn 30, they are bankrupt.

Malaysian youth/students are seeing a worrying trend with those aged between  25 and 44  forming the biggest group classified as bankrupt.

They constitute almost 60% of the 94,408 cases reported from 2013 to August, according to the  Insolvency Department.

''Cars loans took up 26.63%, personal loans 25.48%, housing loans 16.87%, and business loans 10.24%''.