Sounds like this guy family member get loan invest in Triumphfx now going to bankrupt soon.
Hello all I've read all your replies and thank you for the input.
I've been a silent resident of Lowyat since 2008 and believe me, I have learned a lot just from this forum. Politics, real-world issues, r&r , family problems, and most importantly Financial threads which teaches me to be ahead of my peers even from the age of 18 by savings, investing unit trust, stocks, and whatnot. Hence why I did not make a dupe account out of my respect for this forum that I grew up with and instead use my real account (that had possibility someone can recognize me by my username & old avatar) and structured the story to be a little bit cryptic (the use of word "that person" over and over and etc).
Believe me when I say "I know this situation well" and "I've read this over and over" and I believe in the wisdom of "learning from other's mistakes" close to my heart.
I understood the sentiment well about not bailing out a person that continuously makes tons of lapses of financial judgment.
This lapses of financial judgement started in the era where 'internet research' is not yet as advance as we had today.
There are times that person got into this trouble by the bank's agent trying to make 'side-income' by asking that family member to join this weirdly structured forex that, in the end being a pump and dump or pyramid scheme. The legit bank agent convince to take personal loan with him/her and invest to this so-called forex thing. In short, being scam. But this is long gone case already and nothing could have been done. We have decide to move forward from this. This case was so long that, it happen during the era where people can make personal loan to be stretch to 20 years. Hence, why it is BIG amount.
Rest assured that many other lapses of financial judgment does not come from toxic habit like over-expenditure, addiction, gambling, and whatnot. And rest assured 'that person' is not trash of a person that is beyond saving or that you wanted to hate to the core. The whole predicament that came down crashing to that person has affected the mind and become depressed and cannot think straight, to a point that person thinks everyone word's of advice is treated as a 'threat' with lack of care & understanding.
Lastly, yes, I am a big believer of not becoming an enablers in any situation. I really do. But in the end of the day, the parent and many other extended family member won't allow that person to be bankrupt. Ain't got not chance at all. I got no power over that, and I have already state what my believes are towards the situation to the family members. However, in the end, this is as far as I can do about it (being the one who is strict and voiced dissatisfaction about bailing that person over and over). I have accepted that not helping that person and let this be "a teaching moment" is not going to happen in a million years. I also accepted that keep harping about 'the right thing' and keep objecting their stance will just strain the relationship and made the situation lots worst. But at the same time, saying "ahh, fuk it" and not taking part on any of this will destroy everyone, being that I am the only voice of reason that still had some control / coordination amongst other family members.
Hence, the next best thing I could do is to do my best to assist in making sure that this can be salvaged in the second-best optimal way and make sure the other family members' lives are affected as little as possible.
TAPI ! Regardless of what I said, I still thank you all for reminding me again about those wisdoms
