How do you define a bankruptcy?
Is it a person with lots of debts?
Is it a person worth our pity?
Is it a shameless... or simply an easier route to escape reality?
It has been reported that the number of bankruptcy cases from last year to this year have increased. In fact, the figures are rising year after year. Simply because people overspend and find that declaring bankrupt is the fastest and easiest way to escape creditors and debts.
My mum almost wanted to declare bankrupt last year. She was involved in a court case pertaining to car loans. She was supposely owing the car dealer $100k. How was she suppose to find the money? Impossible mission. Hence, bankruptcy crossed her mind. When I found out, I broke down. I cannot accept the fact that my family is going through this path. That we might have to move house again, or even if not, will have our creditors coming to our house claiming items to their credit. I cannot accept this. Ultimately, she abolished this idea. Thankfully, we were blessed with God's and Buddha's help. Otherwise, I really can't imagine what state I will be in now.
A year later today, my boss told me she have intentions to declare bankrupt. And this time round, I encouraged her. To be more precise, it's not her who is to declare but the company. This company which I am working in now is over $150k in debt. No matter how hard we work, how much we earn, it will never be enough. And looking at how my boss handle the finances, I doubt it will ever be cleared. Why did she end up in this state?
Reason: Poor financial planning and overspending.
My boss used to be a tai-tai. She can live life free and easy, drink her afternoon tea with fellow tai-tais, play mahjong and go shopping all day long, be it in Singapore or overseas. However, her desire to play boss persuaded her to start a business- with her husband's money.
Today, her husband is a declared bankrupt in HK and my boss have to take on a night job to support the family. How pathetic. How cruel reality is. And the most amazing thing, it all happened because of one person's poor financial management.
I will tender my resignation on 30 November 2006. Whether or not she will throw her temper at me, I cannot be bothered anymore. It's time for me to think for myself.
"Only people who help themselves will get help from others"
