Wedding
Debt A Serious Problem For Young Malaysians
KUALA LUMPUR - The problem of Malaysians
running up debts because of their weddings has become serious, Nanyang Siang
Pau and Oriental Daily News reported yesterday.
Credit Counselling and Debt Management Agency
(AKPK) chief executive officer Koid Swee Lian advised young couples who are
planning their weddings to consult the agency for advice and guidance.
She said the agency found that it has become
increasingly common for Malaysians to take loans or depend on their credit
cards to pay for their marriage expenses.
The money is usually spent on wedding
receptions or infant formula when the first-born arrives.
She said many factors cause married couples to
run into debt, chief among them being the hefty wedding bill.
She disclosed that a would-be-bride once
sought the agency's help because her mother was asking the would-be-groom for
RM20,000 in dowry.
"We also found parents taking out their
EPF to help pay for their children's weddings. This is not encouraged,"
she said.
According to statistics, from 2006 to
September this year, a total of 198,870 people had sought AKPK's help and
81,596 of them are enrolled in the agency's debt management programme.
-thesundaily
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