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Bankruptcy Among Youth

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Bankruptcy Among Youth
1.0 Introduction
Bankruptcy becoming the issues toward many youth nowadays. The worst is the bankruptcy was involves with many youth where below than age 30. According to Credit Counselling and Management Agency in New Straits Times (2011), an average of 41 Malaysians are declared bankrupt daily, with the majority failing to make repayment for car purchase loan. In short, the problem of bankruptcy among youth has to be taken seriously.
2.0 Problem Statement
Statistics by the AKPK indicated that the number of individual bankruptcy cases had raised by 11.2% to 18,053 cases in 2010 and increased by a further 6.2% to 19,167 cases in 2011 (Curbing Credit Card Abuse, 2012). According to a survey by the Education and Research Association for Consumers, the number of Malaysians in financial distress appears to have increased, as evidenced in the jump in the number of bankruptcy filings from 13,855 in 2008 to 19,167 last year (NewStraitsTimes, 2012). Therefore, this research will investigate further about what are the factors that lead many youth to being sentences bankruptcy.
2.1 Research Question
2.1.1 What are the relationship between unemployment with bankruptcy among youth?
2.1.2 Is there any relationship between financial illiteracy with bankruptcy among youth?
2.1.3 Is there any relationship between medical expenses with bankruptcy among youth?
2.1.4 What are relationship between loan and bankruptcy among youth?
3.0 Research Objective 3.1 To investigate the relationship between unemployment with bankruptcy among youth 3.2 To determine the relationship between financial illiteracy with bankruptcy among youth 3.3 To know the relationship between medical expenses with bankruptcy among youth 3.4 To identify the relationship between loan and bankruptcy among youth
4.0 The Scope Of Study
This research will analyzes the problem and investigate the factor that contribute to bankruptcy among youth. the researcher will selects the respondents among



References: Bianco, C. A., & Bosco, S. M. (2012). Financial (IL) Literacy of College Students. The Journal of American Academy of Business, Cambridge, Vol.18(1), 75-82. Brotman, B. (2006). The Relationship Between Medical Care Costs and Personal Bankruptcy. Journal of Health Care Finance , 66. Curbing Credit Card Abuse. (2012, July 20). Malacca Hari Ini. D.Ralston, R Hallman, G., & Rosenbloom, J. S. (2000). Personal Financial Planning. United States of America: McGraw-Hill, Inc. Himmelstein, D. and Elizabeth, W. (2005). Illness And Injury As Contributors To Bankruptcy. Health Affairs, suppl Insolvency Department of Malaysia (2012). Bankruptcy. Retrieved September 24, 2012, from http://www.insolvencyreg.org University Law Review, Vol. 99, No. 4, pp. 1463-1541. Lerner, J. (1991). Financial Planning for the Utterly Confused. United States of America: McGraw-Hill, Inc. Nazni Noordin,Zaherawati Zakaria,Mohd Zool Hilmie Mohamed Sawal, Kamarudin Ngah, Zaliha Hj Hussin (2012), “Bankruptcy among Youth Exercutives in Malaysia”, International Conference on Economics Marketing and Management, Vol NewStraitsTimes (2012, July 9). Managing Money. Financial Literacy Should Start at an Early Age. Retrieved September 20, 2012, from http://www.nst.com.my NewStraitsTimes (2011, Nov 14) Shuzen, Ng (2009), “Credit Card Debt and You: Under-30s under Siege”. Retrieved September 20, 2012, from The Malay Mail: http://stage2.mmail.com.my/node/5433 The Star (2010). Going Bankrupt Before 30: Debt-Ridden Young Adults Seek Professional Help On Money Management

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