Self-control and financial literacy towards over indebtedness among people who experienced vehicle repossession in Kuala Lumpur

This paper presents a research on the people who experienced vehicle repossession in Kuala Lumpur towards over-indebtedness. The main objective of this research is to measure the level of over-indebtedness among people who experienced vehicle repossession in Kuala Lumpur and recommendations to reduce these issues. The main sources of information are gathered and analyzed from the 50 questionnaires prepared and distributed to the people who experienced car repossession in Kuala Lumpur. All 50 respondents have been interviewed on-site over a period of about a month. Questionnaires have been divided by 4 sections which are Section A to Section D. All data collected through the questions were analyzed systematically by SPSS. The analysis induced a frequency distribution for variable produced, cumulative percentage for the entire value associated with the variable. The answers collected were also determined by examining mean and correlation. From the research findings, it shows that most of the respondents agreed that level of over indebtedness have been influenced by two elements which are self-control and financial literacy.