Prince Chiu Struggles to Pay off Father’s Debts for 14 Years
Although Taiwanese artiste Prince Chiu (邱勝翊) has a successful acting career and is currently dating Stephy Tang (鄧麗欣), his personal life is less smooth. It has been revealed that the 31-year-old artiste and his brother Chris Chiu (邱翊橙) have been helping pay off their father’s financial debts over the last 14 years, a bottomless pit which sometimes involved threats from loan sharks.
Falling into financial trouble after his business in China failed, Prince’s father reportedly borrowed more than $1 million Taiwanese dollars from loan sharks for his business. Another speculation arose that his financial struggles were the result of his gambling addiction.
As Prince’s father was unable to repay his debts, the loan sharks quickly turned to Prince ever since he first debuted in the entertainment industry as a member of the boy band, Lollipop. The loan sharks tried many ways to force Prince to pay for his father’s debts and even waited outside his recording studio.
Over the last 14 years, Prince’s father’s debts never cleared and continued to escalate–it is estimated that Prince and his brother have helped their father pay more than NT$10 million in debt and they cannot continue to help out anymore. The majority of Prince’s earnings went into repaying his father’s debts and this has taken a toll on the star’s own savings, forcing him to continue renting as he does not have sufficient funds to even buy a house.
This article is written by Sammi for JayneStars.com.