From 2020 to 2025, 5,272 Malaysians below 34 were declared bankrupt, Youth and Sports Minister Hannah Yeoh reported. Of these, 5,189 were aged 25-34 and 83 below 25. In 2024 alone, youth bankruptcy cases rose to 877, a 150-case increase from 2023.
Over 5,200 Malaysian Youths Declared Bankrupt Since 2020
Personal loans were the leading cause, accounting for 46.4% of 2024 bankruptcies, followed by business, housing, and vehicle loans.
To counter the trend, the ministry launched nationwide financial literacy and youth empowerment programs, aiming to foster better financial management. Collaborating with the Credit Counseling and Debt Management Agency, the government seeks to reduce bankruptcy risks and improve youth resilience.
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