To many people in Malaysia, being bankrupt is really not that different from being broke or being without cash. To them, it’s all them same – “I need money, I can’t afford food, basic necessities or gas.”
The truth though, is that although both brokenness and bankruptcy denote a state of financial difficulty, being broke is heaven when compared to being bankrupt. When you are broke, that’s between you and your bank account. When you’re bankrupt, it you against the world. With a debt of as little as RM, 30,001, a judge can declare you bankrupt through a court order and this will be public knowledge. In addition to this, the few privileges that you never take notice of, are taken away from you in an instant.
The infographic seeks to explain the true meaning of bankruptcy, together with its consequences, especially when it comes to Malaysia.
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www.iMoney.my
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