True Story? Malaysian Man Faces RM341k Debt, Asks Social Media If He Should Confess to Wife

Source: The Rakyat Post

A 31-year-old Malaysian man is facing over RM341,000 in debt, and now, he’s seeking advice on whether he should come clean with his wife about their financial troubles. Despite earning RM4.8k a month, his debts are piling up, and he’s unsure how to handle the situation.

A recent report from the Credit Counselling and Debt Management Agency (AKPK) revealed that over 53,000 young Malaysians under 30 are burdened with RM1.9 billion in debt. Additionally, 28% of working adults in Malaysia are forced to borrow money for daily necessities.

This troubling reality was highlighted in an anonymous Twitter post by @meinmokhtar, where a man shared that he has accumulated RM341,000 in debt. He explained that his debts consist of two personal loans, one worth RM85,000 and the other RM76,000, both of which are now in legal status. Additionally, he has RM25,000 in credit card debt and owes RM150,000 to a credit company, which has been reported to CTOS.

Despite earning a monthly salary of RM5,500 (RM4,800 after deductions), the man’s financial situation continues to worsen. He’s now unsure whether to reveal his debts to his wife, who is unaware of the extent of their financial troubles.

The man turned to social media to seek advice, asking if he should confess to his wife. Many netizens expressed shock at the amount of debt he had racked up but sympathized with his predicament. Several suggested that he be honest with his wife so that she could be aware of their situation and possibly help in some way. Though they acknowledged that his wife might be angry at first, they believed it would be better to face the issue together.

Others advised the man to lay out his income and financial commitments for his wife before seeking help from AKPK. They emphasized the importance of taking action now to avoid the situation spiraling further. One person even recommended that he look for a higher-paying job or explore side gigs to boost his income.

There was also a suggestion for the man to visit an AKPK branch for professional advice and to stop accumulating new debts. Hopefully, with the right steps, the man can find a way out of this financial crisis.