DECIDING whether or not to lend money to your partner is a decision that should not be made without much consideration.
And it’s important not to go to extreme lengths and endangering your own finances in the process.
A Malaysian woman recently expressed her regret online of how she had to delay paying her own commitments after she opted to take loans to help her boyfriend.
The anonymous woman shared her plight on Muflis Bankrupt di Malaysia’s Facebook group on how she was willing to borrow money from two licensed money lenders (PWB) for her boyfriend in order for him to be able to get the money for the downpayment of his car.
In the first loan, she explained that she had borrowed RM2,400 and received RM2,000, adding that the monthly repayment is a sum of RM400.
Meanwhile, for the second loan, she borrowed an amount of RM1,500 and received RM1,250, with a monthly repayment of RM280.
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And because she had to pay for these loans, she explained that her monthly commitments were delayed for two whole months.
“Because I paid for these foolish things, my important commitments got delayed for two months. Car, motorcycle, and AKPK. That is all I wanted to share.”
She ended her post sharing that she has since broken up with her boyfriend.
Her post has since attracted attention from netizens in the group who advised her to take the experience as a life lesson.
“Alright, a lesson from experience. We’re just human, sometimes we make mistakes. It’s normal, when we’re in love, we’re willing to do anything. From now on, before doing anything, think carefully. You already learned your lesson,” advised Mohd Fariz.
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“To become bankrupt and insolvent, the total debt must exceed RM100,000 according to the current insolvency ruling. So, your debt amount hasn’t yet reached the point of bankruptcy.
“Anyway, moving forward, you need to be more cautious when borrowing or guaranteeing loans, especially when giving money to a third party,” commented Zoul Neikmat.
