Bankruptcy among Young Executives in Malaysia

Holding a numbers of credit card and personal loans among young executives is a normal scenario right now. Some people claims that by having a numbers of credit cards, it will reflect someone socio economy status. Without realizing the impact of the excess usage of credit card, more and more young executives were declaring bankrupt due to credit card debts. This research intended to know the factors that contributed to the bankruptcy of young executives due to credit card debts. The findings of the research provide useful information to young executives as well as public in order to increase their awareness regarding this bankruptcy issue. In this study, researchers were looking at the relationship between knowledge about credit card and knowledge about bankruptcy and also lifestyles toward bankruptcy due to credit card debts. Of all the variables, only lifestyle has no relationship toward bankruptcy due to credit card debts. In order to curb with this problem, it was suggested that young executives should be provided with sufficient information regarding all matters pertaining to credit card usage as well as general knowledge on what things that can make them declared bankrupt.