Hitting Rock Bottom

[mjmotr1]

Hey guys, I’m 25(M). Truly need your advice and kind support for me. I have been suicidal for the past 6 months and I have no one to open up.

It all started in 2022, I started trading forex and made a huge gain that I couldn’t even believe myself. I was making a whole lot of new money. At peak of my trading journey I was making nett after Zakat deductions around RM200K.

Long story short, I lost it all this year and I made bad decisions by applying for personal loan and CC trying to recoup or gain back on what i have lost. And I failed, now i am bearing the consequences and i truly regret it.

I am still working with a salary of RM4K after all the deductions my nett pay is around 3.5K with OT.

My commitments per month is making me awake all night (I havent been sleeping properly for almost half of the year now, averaging about only 2-3 hours sleep)

Below is my monthly commitment:

Car - RM1064
Bike - RM275
CC StanChart - Min Pay RM 155
RHB PL - RM201
AEON PL - RM202
Parking fees - RM100
Wifi - RM175
Credit Community loans

Emicro - RM114
Instaduit - 174

Can advise me how do i manage the take home money after deduction from all my commitments?
I am sorry in advance because i am lost and cant think of any wise plans from here, i truly appreciate all the advice from everyone in this sub.

P/s: i am sitting with 0 savings. the money gain from forex i lost it all from partying with celebs n friends, shopping and traveling. (Sold every fancy stuffs that ive bought and only managed to reduce my PTPTN to half (now is at 24k)
I truly regret it. I am now trying to be back up on my feet and again i will appreciate all of your encouraging words and advice.

Thank you in advance.

 

[allenkrookham]

@mjmotr1 Okay i’m just gonna throw some ideas, up to you to take it up or not.

1. Pay ptptn the last. If possible, delay the payment as it is the least risky. Worse case is barred from travelling. But you don’t have money to travel anyway.
2. At 25, assuming u are single, dump that car. Use motor. That’ll save you monthly instalment and the parking fees. Ez rm1,300 saved.
3. With the savings, focus on paying off the one with the highest interest, then move down to lesser interest.

Your story isn’t common thou. I heard it first hand couple of times. It’s just a classic example of “mabuk duit” - a scene where a young and inexperienced chap suddenly gotten a windfall and blow the money first, thinking it’ll last or you can repeat the success. Similar with a person striking toto.

It’s not worth being suicidal. You’re nowhere near bankruptcy level and you’re still 25. The only thing you probably gonna lose is dignity in front of friends/family and credit score. But it’s okay. You can build up again. Life is a marathon bro. Baru kaki masuk longkang wanna quit the race already? Jangan la… this chapter is something for you to laugh at during golden age.

 

[sam1978]

@allenkrookham I dont see why he need to delay payment. His commitment comes up to about 2.2k. He still has a good margin for cashflow.

I dont see rent, so maybe OP is living with parents so rent not an issue.

Dont delay payment for PTPTN. My colleague have gotten hefty penalty for delay payment. Dont treat it like a education fund, treat it like as it is - a loan.

 

[joppa11]

@sam1978 Just pay the bare minimum then. 50 a month

 

[sam1978]

@joppa11 PTPTN still charges penalty for incomplete payment for that particular month.

 

[jijo022]

@sam1978 What sort of penalty, may I ask?

 

[sam1978]

@jijo022 Warning letter and legal charges.
This is stated in their website FAQ.

https://www.ptptn.gov.my/bayaran-balik/ (Number 3 at soalan lazim)

If you are wanting pay a lower installment, you have to get it in black and white - restructure the loan. Cant just decide to pay less/‘minimum’ on your own merit

 

[tinysmallest]

@allenkrookham Im with everything this person stands for. Another thing, Idk if OP is religious or not but seeking god is one of the course of action to relief that stressof yours. Just a belief would def lead you away from a nhilistic end-suicide.

 

[zainonechia]

@tinysmallest that's one way to preserve mental wellbeing. But like you say, it just a relief and not a solution. The only way out is for OP to act on it with great effort.

 

[dazza_73]

@mjmotr1 If i tally up all your commitments it's exactly RM2.1k. So you have 1.4k leftover after paying all these.

Best course of action is to free up some space for cashflow. You have 2 modes of transport. A car and a bike. I would sell off one of those. The bike, if you have a family to support. The car, if you are single.

Good thing is that you lose this money at your age. You have all the time in the world to recoup them back eventually. 200k would barely matter when you look back when you are 40 years old. It's a lesson and core memory, albeit a painful and expensive one.

Life will have to go on. Goodluck.

 

[semyamara]

@dazza_73 I think his major challenge seems to be adjusting to a lower-income lifestyle.

 

[drew1985]

@semyamara I would think this is the hardest, not trolling

 

[lynq]

@dazza_73 Also to add on to this, try to pay of the SCB credit card asap, that one is on the highest interest.
The rest of the PL is just pay as you go, give yourself more time to figure out

Once you free up the car and 1 credit card, it should feel alot better. Just gotta live through it. But you will still have avenues to have some enjoyment in life but maybe not what you had.

And reach out to befrienders. It is free. As someone who has family member who committed suicide i truly hope you dont do it. It is a very very painful process foe your family and friends. It is a permanent scar.

And can talk to AKPK. You are not at the stage where you really drowning so a direct intervention may not be needed. Just get some advice, maybe face to face is better.

At 25 you are still young. Can always buy the car later.

 

[theblesser]

@mjmotr1 Go to AKPK as soon as you can. Google AKPK, set an appointment online, go see them, they’ll help in restructuring the loans and give you the breathing space you need. Tackle the problems one by one.
Trade your car for an axia or something. Paying 1000 monthly for 3.5k salary is crazy. Next step would be to find part time jobs and please don’t venture into a business for now. The risk is too high for you. And last of all. Don’t die OP. There is no afterlife. This is the only life you’ll ever have. You fucked up sure, but there’s still a lot of things that’s gonna make this fucked up life worth it. So yeah, hang on

 

[lenny3]

@theblesser Yep, I agree with you to go to AKPK. At least after the restructuring with AKPK, those 3rd party debt collector won't call and disturb except from AKPK themselves

 

[chippero]

@lenny3 He is not shit enough to qualify for akpk

 

[niv80]

@chippero He doesn't need to be in deep shit to go to AKPK. They also offer advice and counseling on personal financial... He is clearly distressed, so it is good to try to go to a more professional advice than a bunch of random redditors...

 

[katebergy]

@mjmotr1 What forex does to a mf

 

[philip_b]

@katebergy Just forex things.

 

[jennylynni]

@mjmotr1 I'd pay back cc instead of ptptn first if given the choice. Ptptn is giving you risk free money in the sense that the interest is 1% and OPR is 3%.