8 year old told to clear debt
From The Star : Boy 8, summoned by bank to settle loan
This is scary. He was signed up as a guarantor when he was 4 and nobody from his family knew about it until the borrower defaulted in his payments. The funny thing is when the father went to see the bank, this is what he was told.
He said the officer gave him two choices, that Desmune being liable for the debt could either settle RM660 of the arrears or the entire sum.
This is also a warning to all, not to sign as a guarantor without really knowing the borrower can pay the whole loan… of course in this boy’s case - it’s not his fault hehe.
