Debt

Debts are a big problem in Malaysia. You can definitely find a sad story in the newspaper every single day concerning loan sharks and how they destroyed a family. We have stories on how the father ran away from home leaving the wife and kids to deal with the overwhelming debt. Or with parents burning the whole family because they couldn't pay back the debt that they owe to the loan sharks. And the story just goes on and on and on.

It's really sad sometimes. And according to recent reports, last year saw a steep rise in the number of people that had debt problems. As if it wasn't enough, it was the second consecutive year that the figure has risen. And the worst part is once you're in a debt, it is really hard to get out of it. Some people go on and take even bigger loans with even higher interest rates just to try and pay off their debt. And where does this lead them? They then end up being caught in a vicious cycle! And this could mean bankruptcies and losing everything that they own!

Have you heard of IVA? Well.. this could be a way to solve your debt problems. Take some IVA advice and see if it suits you.

This site has many articles on money saving tactics and how to be thrifty. Among them are

Don't fall for a debt collection scam
Beware of promises to improve your life

You can never be too careful on this. Everyone has a potential to fall into this trap. It is how wise we are in making financial decisions.