What happens when the desire to support our parents turns into an unexpected struggle? For one individual, this heartfelt intention has led to a painful ordeal, as their parents’ financial mismanagement has left them carrying a heavy and unexpected burden.
In a recent post shared on a Facebook group, the individual detailed their disheartening experience, revealing how their parents’ reckless financial decisions have left them in a precarious situation.
M’sian stuck with RM30K debt after parents use his name
The individual had hoped to help their parents by registering a food truck under their own name, believing it would provide a fresh start for their struggling family.
But this act of kindness quickly turned into a nightmare.
“My intentions were good because I felt sorry for my parents. I registered a food truck in my name, hoping it would help them.
But now, there’s a debt of RM30,000 with a government business financing agency because my parents haven’t been making the payments as they promised,” they explained.
Here’s the key issues the individual faced:
- Debt and bankruptcy: The individual’s parents were heavily in debt and eventually declared bankrupt.
- Misuse of names: After their bankruptcy, the parents began using their children’s names, including the individual’s, to take on additional debt.
- Unpaid debt: The food truck, registered in the individual’s name, is now associated with a debt of RM30,000. The parents have failed to make the agreed payments.
- Neglected responsibilities: Not only did the parents fail to pay the debt, but they also did not renew the truck’s road tax.
- Unmet expectations: The individual had never asked for or received any business profits from the food truck, hoping to support their parents. Instead, they discovered that their parents were mishandling the situation behind their back.
‘I never asked for or received a single cent of the business profits‘
The individual, who has chosen to remain anonymous, shared how their parents’ actions have left them feeling betrayed.
“SSM (Companies Commission of Malaysia) is under my name, and the food truck is also under my name. Not only did they not pay the debt, but they also didn’t renew the truck’s road tax. Now they expect me to pay the agency debt.
All these years, I never asked for or received a single cent of the business profits because I felt sorry for them. It turns out they were doing this behind my back,” they added.
Now, faced with the heavy burden of debt and a sense of betrayal, the individual is contemplating taking legal steps to protect their name.
“I don’t know what to do with my parents anymore. What legal actions can I take? Please give me advice and opinions,” they asked the online community.
You have to be firm about money.
The post quickly garnered attention, with many netizens expressing their sympathy and offering words of encouragement.
One suggested, “Take the truck and sell it. It seems like they are taking advantage of you.”
Another person commented, “Just sell the food truck. It’s already in your name. It’s better to sell it than deal with debt collectors. Talk nicely to your parents and tell them this is the best solution.”
A third netizen advised, “Don’t give your parents a chance to incur more debt. You have to be firm about money. Don’t pass down poverty to your children.”
