Bankruptcy Among Youth - 5014 Words

1.0 INTRODUCTION Young generation is an important asset to developing country like Malaysia since they will continue to achieve the vision and mission of Malaysia. They need to be survived and struggle in order to be useful to this country. However, Malaysian youth are becoming increasingly reckless with spending especially by the convenience offered by credit card. It is due to the desire to purchase everything that they want making them easily to involve with the loan. As the result, many youth where below than age 30 were involves with bankruptcy. According to Credit Counseling and Management Agency in New Straits Times (2011), an average of 41 Malaysians are declared bankrupt daily, with the majority failing to make repayment for car†¦show more content†¦The researcher will selects the respondents among the students of UiTMArau that have different attitude toward bankruptcy issues by distributing questionnaire and gather the information by using several related resources. 5.0 THE RELEVANCE OF THE STUDY 5.1 To the Researcher The researcher will get experience on how to deal with the real situation as they will have to develop questionnaires and distribute it to the respondent as well as further understanding on factors that contribute to the bankruptcy. 5.2 To the UiTM Perlis It can be used to increase awareness on bankruptcy among students, lecturers and staff inUiTM Perlis. 5.3 To the Faculty With this study, the collection of project paper can be added in the faculty as it is useful for future reference as well as help other students to gather information and make as references for findings from past research. 6.0 LITERATURE REVIEW 6.1 Conceptual Discussion 6.1.1 Bankruptcy Bankruptcy can be defined as someone who has officially declared that he cannot pay what he owes. In Malaysia, the minimum amount of outstanding debt amount to initiate bankruptcy is RM30 000 (Insolvency Department of Malaysia, 2012). According to BERNAMA (2010), this problem was happen due to several reasons such as becoming guarantors, failing to settle credit card payments, scholarships or education loans. Those factor have been supported by HemananthaniSivanandam (2010) which said theShow MoreRelatedBankruptcy Among Youth1748 Words   |  7 Pages1.0 Introduction Bankruptcy becoming the issues toward many youth nowadays. The worst is the bankruptcy was involves with many youth where below than age 30. According to Credit Counselling and Management Agency in New Straits Times (2011), an average of 41 Malaysians are declared bankrupt daily, with the majority failing to make repayment for car purchase loan. In short, the problem of bankruptcy among youth has to be taken seriously. 2.0 Problem Statement Statistics by the AKPK indicated thatRead MoreThe Assessment Of Yakima County1562 Words   |  7 Pages Yakima County is geographically very unique. The county is located in south central Washington State among seven neighboring counties. Its geography consists mainly of rolling foothills and fertile valleys. Agriculture is the main producer in the county’s economy and, according to the Yakima county economic profile, Yakima is the second largest county in Washington state at 2.75 million acres. Concerning health in Yakima County there are three major issues that stand out. The percentage of peopleRead MoreThe Affects of the United States Economy1195 Words   |  5 Pagesup after a sluggish 18 months (Mississippi Business Journal, p.7). Consumer spending had a tremendous grow since the recession started. 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