Suicide an 'irresponsible' option for indebted family man

As a husband, father and the chief breadwinner of his family, Mr Wong knows suicide is not an option.

The 48-year-old has applied for bankruptcy, but says he is determined to continue trying to support his wife, six-year-old son and elderly parents in spite of his debts and the prospect of unemployment.

'It would be very irresponsible if I resort to suicide and leave my family behind. I definitely would not take the stupid option no matter how bad things have turned,' he said. Mr Wong, an insurance agent who has been in the trade for more than 10 years, said he had applied for bankruptcy in December after banks told him financial restructuring would not help in his situation.

He reflected: 'My company may not renew my employment contract as it may consider my bankruptcy record would seriously undermine my credibility in the profession.'

Mr Wong has credit card debts of more than $300,000 and has a $7,000-a-month mortgage for his flat. However, he can no longer meet the bill payments since he saw his business crumble due to the economic downturn.

From $30,000 a month in 1997, his income has dropped by two-thirds. His wife, a secretary, earns $10,000 a month and contributes to daily expenses.