26yo Malaysian’s RM30k loan dilemma for parents goes viral, sparking debate as netizens urge caution over financial risk and responsibility.
A 26-year-old Reddit user has ignited a widespread discussion online after sharing a deeply personal dilemma involving their parents’ request for financial assistance, specifically, to take out a RM30,000 bank loan in the user’s name.
The individual expressed significant hesitation, despite wanting to help their parents who are currently facing severe financial hardship.
“Last weekend, my parents called me and asked whether I could take a RM30k loan from a local bank. Apparently, they will prepare the documents and everything, but I just need to agree to have the loan in my name,” the user wrote.
While the parents promised to manage the monthly repayments, the user calculated that with interest, the total repayment could reach RM55,000 over seven to nine years.
“My parents will be in their 60s, can they still work at that time to pay it off? I am so stressed… and I feel guilty because I am just an ordinary worker at a GLC,” the post read.
The user later revealed in the comments that they earn a modest monthly salary of RM2,100 and live in a different state, making the prospect of covering the loan should their parents default particularly daunting.
The post quickly went viral, drawing a wave of responses from netizens, the majority of whom strongly advised against the move.
Social media users stressed that the legal responsibility for a loan falls entirely on the individual whose name is on the contract, regardless of any verbal agreements between family members.
“Nope. Don’t do it. They already cannot repay existing debts; that is why they need a new one to cover the old ones. I don’t think they have the discipline to repay any debts right now,” advised user Ok-Arm-3100.
The same user suggested that the parents need debt restructuring rather than a new loan, warning: “Do not let anyone emotionally blackmail you into signing anything.”
“Only loan money to friends or family if you are prepared to never see that money again. If you cannot accept that, then don’t, unless you want to sacrifice the relationship,” Fuzzy-Newspaper4210 suggested.
