Many university graduates have been declared bankrupt due to heavy credit card spending and failing to settle their loans early on in their working lives.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said statistics showed that there were a 40% increase of bankrupts every five years and by 2020, the number was expected to reach 120,000.

(via. http://thestar.com.my/news/story.asp?file=/2012/11/23/nation/12361423&sec=nation)

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