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7 charged with forgery of credit cards, gift cards
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RM50,000 in debt from 12 credit cards
A 35-YEAR-OLD jobless man, who is also a schizophrenic, is now saddled with RM50,000 in debt from 12 credit cards he has owned since 2005.
Yet the man, who is from Salak South, can barely hold a job not only because of his mental disorder, but also his bad case of eczema.
The man, who still lives with his parents, had never applied for the cards but accepted them anyway. Eight of the cards are Visa while the rest are Mastercard.
He used some of the cards to buy some luxury items and pay for holidays, including a spa treatment in Thailand, and even gave two to his mother and sister.
But when the family was hounded by notices for payment, they turned to the Malaysian Chinese Association Public Service and Complaints Bureau for help.
Yesterday, its chief, Datuk Michael Chong, said there was not much the bureau could do to help as the man was not being cheated.
But he questioned the decision of these banks in approving the cards to the man.
“He previously worked as a machinist and did not earn enough to qualify for one card, let alone 12, so the blame should also lie with the banks.
“If they could just approve credit cards to people who did not even apply for the, then it would explain why Bank Negara Malaysia’s report showed a rise in the number of bankruptcies,” he said.
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RM50,000 in debt from 12 credit cards
A 35-YEAR-OLD jobless man, who is also a schizophrenic, is now saddled with RM50,000 in debt from 12 credit cards he has owned since 2005.
Yet the man, who is from Salak South, can barely hold a job not only because of his mental disorder, but also his bad case of eczema.
The man, who still lives with his parents, had never applied for the cards but accepted them anyway. Eight of the cards are Visa while the rest are Mastercard.
He used some of the cards to buy some luxury items and pay for holidays, including a spa treatment in Thailand, and even gave two to his mother and sister.
But when the family was hounded by notices for payment, they turned to the Malaysian Chinese Association Public Service and Complaints Bureau for help.
Yesterday, its chief, Datuk Michael Chong, said there was not much the bureau could do to help as the man was not being cheated.
But he questioned the decision of these banks in approving the cards to the man.
“He previously worked as a machinist and did not earn enough to qualify for one card, let alone 12, so the blame should also lie with the banks.
“If they could just approve credit cards to people who did not even apply for the, then it would explain why Bank Negara Malaysia’s report showed a rise in the number of bankruptcies,” he said.
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Jobless schizophrenic with 12 credit cards owes RM50,000
KUALA LUMPUR: An unemployed schizophrenic has landed himself with a RM50,000 debt – no thanks to his 12 credit cards.
MCA Public Services and Complaints Department head Datuk Michael Chong said the man, known only as Y.F. Chong, 35, had approached him for help as he was afraid he would go to jail.
“Why was it so easy for him to get so many cards when his salary was only 1,500?” he asked reporters at a press conference at his office here yesterday.
Y.F., who used to work in a milling factory, said he would apply for every credit card offered to him by promoters at shopping centres and was approved for all of them.
He said that when he lost his job in October due to his condition, which was diagnosed in 2004, he started depending on his credit cards to get by.
“Previously, I used to pay for trips to spas and a holiday in Thailand with my credit cards,” he said, adding that he even took two supplementary cards for his mother and sister.
He said last year, the banks started demanding payment, adding that all his cards have now been cancelled.
“If I still had a job, I would pay off the debts by instalment, but I am jobless now,” said YF, who because of his condition, claims somebody is following him and poisoning his food.
Schizophrenia is a mental disorder characterised by a breakdown of thought processes and by poor emotional responsiveness. Symptoms include auditory hallucinations, paranoia or delusions,
He claimed that when he tried to file for bankruptcy, the Official Assignee office asked him to pay another RM1,500 for filing charges.
“I couldn’t as I didn’t have the money,” he said.
Chong expressed amazement that YF managed to get 12 credit cards.
He said he had tried to apply for a Gold Card more than 10 years ago, and was rejected.
“Why is it so easy to apply for credit cards now?” he asked.
Chong added that it was not surprising that so many young people in the country were in serious debt.
“There’s something really wrong with the current system,” he said, adding that banks should have a more thorough vetting process.
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Jobless schizophrenic with 12 credit cards owes RM50,000
KUALA LUMPUR: An unemployed schizophrenic has landed himself with a RM50,000 debt – no thanks to his 12 credit cards.
MCA Public Services and Complaints Department head Datuk Michael Chong said the man, known only as Y.F. Chong, 35, had approached him for help as he was afraid he would go to jail.
“Why was it so easy for him to get so many cards when his salary was only 1,500?” he asked reporters at a press conference at his office here yesterday.
Y.F., who used to work in a milling factory, said he would apply for every credit card offered to him by promoters at shopping centres and was approved for all of them.
He said that when he lost his job in October due to his condition, which was diagnosed in 2004, he started depending on his credit cards to get by.
“Previously, I used to pay for trips to spas and a holiday in Thailand with my credit cards,” he said, adding that he even took two supplementary cards for his mother and sister.
He said last year, the banks started demanding payment, adding that all his cards have now been cancelled.
“If I still had a job, I would pay off the debts by instalment, but I am jobless now,” said YF, who because of his condition, claims somebody is following him and poisoning his food.
Schizophrenia is a mental disorder characterised by a breakdown of thought processes and by poor emotional responsiveness. Symptoms include auditory hallucinations, paranoia or delusions,
He claimed that when he tried to file for bankruptcy, the Official Assignee office asked him to pay another RM1,500 for filing charges.
“I couldn’t as I didn’t have the money,” he said.
Chong expressed amazement that YF managed to get 12 credit cards.
He said he had tried to apply for a Gold Card more than 10 years ago, and was rejected.
“Why is it so easy to apply for credit cards now?” he asked.
Chong added that it was not surprising that so many young people in the country were in serious debt.
“There’s something really wrong with the current system,” he said, adding that banks should have a more thorough vetting process.
Categories: Credit Card Tags: credit cards accepted at costco, credit cards accepted at sams club, credit cards after bankruptcy, credit cards american express, credit cards and bankruptcy, credit cards and college students, credit cards and credit score, credit cards applications, credit cards apr, credit cards average credit, credit cards bad credit, credit cards bankruptcy, credit cards best, credit cards by credit score, credit cards calculator, credit cards capital one, credit cards cash back, credit cards chase, credit cards citi, credit cards college students, credit cards companies, credit cards compare, credit cards comparison, credit cards consolidation
PrepaYd Wireless Responds to Verizon’s Proposed $2 Fee to Pay Your Wireless Bill with a Credit Card with Its “Y Pay …
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–
PrepaYd Wireless, Inc., a wholly owned subsidiary of PrepaYd, Inc.
(PPDC.PK), a Nationwide Wireless Service Provider responding to
Verizon’s proposed $2 pay by credit card fee is offering no contract
wireless service plans, free mobile devices and free debit or credit
card payment option. The “Y Pay More” no contract plan includes
Unlimited Talk, Text, and 3G Data for exactly $40 a month and includes a
free mobile device while supplies last. The company also offers an
unlimited plan for non data users at only $35 a month for unlimited talk
and text and includes a free mobile device while supplies last.
“PrepaYd Wireless is excited to respond with its Y Pay More initiative.
We encourage anyone spending more than $40 a month for cell phone
service or fed up with service outages and rising fees to contact us to
find out about our nationwide coverage and to get a free phone while
supplies last,” stated Josh Berman, Vice President of PrepaYd Wireless,
Inc.
PrepaYd Wireless, through its parent company PrepaYd, Inc., is a pioneer
in the prepaid debit card industry. The company prides itself on being
an industry leader in competitive pricing and no hidden fees. In fact,
the company lowered its debit card fees this year as banks like Bank of
America tried raising theirs.
About PrepaYd Wireless
PrepaYd Wireless, Inc. is a Wireless Service Provider that offers mobile
services to an estimated 110 million consumer demographic. Prepaid
Wireless Services is an alternative to the traditional Postpaid Wireless
Service Plans provided by major carriers. In addition, PrepaYd Wireless
intends to make all of its available phones and wireless plans
compatible for mobile financial services. For more information about
PrepaYd Wireless, Inc. visit www.PrepaYdWireless.com.
About PrepaYd, Inc.
PrepaYd, Inc. is a provider of financial services in the prepaid
debit card industry. The company, through its wholly owned
subsidiary, offers prepaid debit cards to America’s estimated 60 million
underbanked citizens. In addition to the underbanked consumer
demographic, small and mid-size businesses have found a much needed
product with the company’s Prepaid
Business Expense Card Program. With the diminishing credit card
markets, companies need a new way to fund employees’ expenses other than
through traditional credit cards or cash reimbursements. For more
information about PrepaYd, Inc. visit www.PrepaYdInc.com.
For more information about PrepaYd Wireless, Inc. visit www.PrepaYdWireless.com.
For more information about PrepaYd, Inc. visit www.PrepaYdInc.com.
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release
discusses any expectations concerning future plans, financial results or
performance, such statements are forward looking within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, and are subject to
substantial risks and uncertainties. Actual results could differ
materially from those anticipated in the forward-looking statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof and
reflect only management’s belief and expectations based upon presently
available information. These statements, and other forward-looking
statements, are not guarantees of future performance and involve risks
and uncertainties and the company assumes no obligation to update any of
the forward-looking statements in this release.
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Stratfor Says Hackers Only Nabbed Credit Card Information
As scientists at the CERN Large Hadron Collider in Geneva, Switzerland continue their search for the elusive Higgs boson “God particle,” one physicist has built a tribute to their work entirely out of Lego bricks. Sascha Mehlhase, a researcher at the Niels Bohr … Continue reading ?
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Credit cards put a dent in our wallets
WATERLOO REGION — The holidays are a time when excess becomes the norm, whether that is shopping for presents or setting a hearty meal.
Credit cards quickly become the run-to method of payment during these times, leaving the person in a rut when the credit card bills arrive in January.
“Credit cards are a slippery slope into debt,” said Heather Cudmore, manager of credit counselling at Mosaic Counselling and Family Services.
In September 2009, credit card debts hit $78 billion, according to Equifax Canada, a source of consumer and commercial data. Also in 2009, Canadians had 72 million credit cards in circulation, according to Euromonitor International, a company that conducts research in consumer information.
“I only work one day a week and I get an average of 20 to 25 people coming in,” said Cindy Hare, credit counsellor for the KW Counselling Services. “They’re mostly middle-aged people approaching retirement.”
The problem with credit cards is that people use them as a supplement to their income, according to Cudmore. In the case of a car breakdown, or not having enough money to spend at Christmas, we use the credit card as a back-up plan, in case of emergencies. “There will always be an emergency.”
Whether you are a young adult facing student loan debt, a teacher looking for a way to pay your bills during the summer months or a senior with increased medical expenses, there is always something you can do to keep bills in check, according to the Canadian Bankers Association.
“Do some basic budgeting — calculate your spending based on your income,” said Cudmore. “The little things like a cup of coffee here and there add up.”
“In more serious cases, you can come in to see us and we’ll sign you up for a debt management program or even talk to a trustee to issue bankruptcy,” said Hare.
In situations where you’re faced with debt, credit counsellors advise that you make some lifestyle changes. Instead of paying copious amounts of money on car insurance and gas, opt for public transportation.
While debt is something many Canadians walk into, according to Hare, it is also a psychological concern.
“People get emotionally attached to their bank accounts and their money,” said Hare. “They’re afraid to reach out for help because society tells them it’s wrong to talk about your money problems.”
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Credit cards put a dent in our wallets
WATERLOO REGION — The holidays are a time when excess becomes the norm, whether that is shopping for presents or setting a hearty meal.
Credit cards quickly become the run-to method of payment during these times, leaving the person in a rut when the credit card bills arrive in January.
“Credit cards are a slippery slope into debt,” said Heather Cudmore, manager of credit counselling at Mosaic Counselling and Family Services.
In September 2009, credit card debts hit $78 billion, according to Equifax Canada, a source of consumer and commercial data. Also in 2009, Canadians had 72 million credit cards in circulation, according to Euromonitor International, a company that conducts research in consumer information.
“I only work one day a week and I get an average of 20 to 25 people coming in,” said Cindy Hare, credit counsellor for the KW Counselling Services. “They’re mostly middle-aged people approaching retirement.”
The problem with credit cards is that people use them as a supplement to their income, according to Cudmore. In the case of a car breakdown, or not having enough money to spend at Christmas, we use the credit card as a back-up plan, in case of emergencies. “There will always be an emergency.”
Whether you are a young adult facing student loan debt, a teacher looking for a way to pay your bills during the summer months or a senior with increased medical expenses, there is always something you can do to keep bills in check, according to the Canadian Bankers Association.
“Do some basic budgeting — calculate your spending based on your income,” said Cudmore. “The little things like a cup of coffee here and there add up.”
“In more serious cases, you can come in to see us and we’ll sign you up for a debt management program or even talk to a trustee to issue bankruptcy,” said Hare.
In situations where you’re faced with debt, credit counsellors advise that you make some lifestyle changes. Instead of paying copious amounts of money on car insurance and gas, opt for public transportation.
While debt is something many Canadians walk into, according to Hare, it is also a psychological concern.
“People get emotionally attached to their bank accounts and their money,” said Hare. “They’re afraid to reach out for help because society tells them it’s wrong to talk about your money problems.”
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