Kereta dan kad kredit punca bankrap

GETTING the keys to your first car, buying a piece of designer wear and furnishing a new service apartment are proud moments for any youngster, however, the urge to splurge can quickly lead to financial downfall.

It has been shockingly revealed that 41 Malaysians aged between 25 and 44 have been declared bankrupt daily for the past five years, making it a total of 38,357 bankrupt individuals in 65 months.

The Credit Counselling and Debt Management Agency (AKPK) chief executive officer Mohamed Akwal Sultan says the number of young adults seeking advice is high.

“During the economic slowdown last year, more than 3,000 people were coming to AKPK for consultation and advice on a monthly basis. Almost 50 per cent of them were between 30 to 40 years old, and 15 per cent were in their 20s.”
Financial problems for young people are generally sparked off by two things — cars and credit cards.

“The main problem with youngsters, for example when it comes to purchasing cars, is that they overlook other cost factors attached to a car such as insurance, toll, parking and maintenance of the vehicle. Car buyers need to look beyond monthly instalments of the vehicle concerned.

“Many youngsters are opting to finance the vehicles purchased for longer loan periods and many decide to change their cars after five years or so. Some may even change the vehicle earlier as well.

“For this, they must take note that in the first few years of paying for a vehicle, they will be paying a large portion consisting of interest payments first.

“Hence, before considering to sell your vehicle, best to check with the bank concerned on what the final settlement value of the car is and to inquire around the approximate price they can sell their vehicle for.

“If the price they can get on their vehicle is higher than the final settlement amount to the bank, then they can consider selling their vehicle without having to worry about any differential settlement to the bank.”

He says there are people in their 30s who have financial problems because their parents could no longer bail them out.

“The rationale is many people start working in their 20s and during that period, their parents are still able to help them financially when the need arises.

“But once they get to their 30s, most of their parents have retired and they are left to fend for themselves.

“Hence it points to good money management skills which are very much needed by that individual to ensure he or she is able to be financially independent.”

Another big mistake, he says, is mismanagement of credit cards.

“We always tell people to be wise in using their credit card. When using a credit card for purchases, firstly ensure you are able to pay it back when the statement arrives.

“A credit card is to be treated as if it’s your own cash and all transactions should be tracked to ensure repayment capability.

“If unable to repay the outstanding in full, always pay more than the minimum five per cent due each month.”

Read more: Young and in debt http://www.nst.com.my/nst/articles/18avbankrupt/Article/#ixzz0yKTc6rVM

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Pengalaman aku:

1. Masa buat MSc di UTM, aku dah berkahwin. Satu hari berjalan-jalan di Kompleks Angsana, aku dengan wife didatangi oleh salesman untuk credit card. Sebelum ni dah berapa kali menolak tapi kali ni menurut saja. Menolak bukan tak mau, tapi takut malu tak cukup syarat. Hidup dengan elaun pelajar graduate berjumlah RM1.5K sebulan, takut kena gelak je dengan salesman.

Aku terperanjat bila salesman kata, anda layak! Wow! Ini sudah bagossss! Credit limit RM4K.

Aku apply dan tak berapa kemudian dapatlah kad kredit tu.

Bila pindah ke Balakong atas sebab dapat jadi tutor di UPM, wife aku berhenti jadi cikgu sandaran. Pendapatan aku jadi tutor tak banyak beza dengan elaun sebelumnya. Hidup kami masa tu, dalam masalah kewangan, memang sedang masalah!

Kad kredit tak terbayar. Masih guna juga kad kredit sampai kena block. Tak lama lepas tu, dapat surat peguam ugut untuk bawa kes ke mahkamah.

Aku nyaris jadi statistik dalam artikel NST ni. Aku dapat bayar kesemua hutang kad kredit tu dengan menjual some of my priced CD collections (CD Metal ada harga, tak rugi kumpul – sesak-sesak boleh jual).

Sekarang ada kad kredit juga (Maybank Ikhwan). Memang brutal punya credit limit dia bagi hahaha… boleh buat downpayment rumah semi-D. Harap-harap tak jadi statistik NST juga.

2. Sebelum fly ke Australia aku clearkan semua balance kad kredit yang aku ada. Malangnya aku terlupa nak tutup akaun salah satu daripadanya.

Bila kembali, selepas 3.5 tahun, seperti orang lain, aku nak beli kereta. Apply financing. Bank telefon kata, “Nama Encik blacklisted la!”

Semak punya semak, rupa-rupanya kad kredit annual fee masih jalan. Total nak cecah RM400. Aku bayar dengan kadar segera.

Ia mengambil masa lebih sebulan untuk selesai dan clear nama dari senarai blacklist Bank Negara. Sepatutnya cepat dari itu tetapi person-in-charge yang aku jumpa di bank tersalah setel. Sepatutnya aku kena bayar di kaunter bukan di ATM machine. Dia bawak aku bayar kat ATM menyebabkan apa kes aku tak dapat nak refer pada HQ bank tu. Selepas beberapa kali call dan jumpa in-person di bank, barulah nama naik ke Bank Negara dan nama aku clear.

3. Aku apply kad kredit. Bank tolak sebab nama blacklisted (dari kes #2).

Sebulan kemudian, aku dapat statement dari bank tersebut supaya bayar fee RM50. Aik? Permohonan ditolak dan kad kredit pun tak dapat tapi dapat statement jugak?

Aku call dan aku explain. Person-in-charge kata dia akan siasat.

Aku masih dapat statement suruh bayar that-damned RM50.

Aku pergi kaunter dan re-explain. Person-in-charge kata, takpe, nanti hilang le nama you dari list tu.

MASIH LAGI AKU DAPAT STATEMENT RM50 tu.

Sampai sekarang masih dapat statement. Gila.

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Moralnya? Berhati-hati dengan kad kredit!