kinda relieve to hear that its not due to gambling

stray strong bro.. be committed and you can get out of this mess.

i did helped my relative before with a small loan... reason? use creditcard till pokai also. buy luxury buy dog. no self disiplin better dont have any credit card at all.
lesson learned and got out of crisis in a much better shape.

i pity TS but key here is affordability

measure your size. don't spend what you can't afford

always set aside savings before spending

many replies here already hv good suggestions on spending pattern & lifestyle changes you can make

i wish TS all the best & pls pay the along first

pay off ah long first, if not it's gonna ballooned into a even bigger number.

for the other issues, the rest have already mentioned.

earn RM1, spend RM0.8 (max) save the RM0.20.

you're on the opposite, earn RM1, spend RM2 pulak...

Even those companies not in the banking sector would be reluctant to hire a bankruptcy to be in charge of any business units/departments. There was even a case I personally came across where the management bypass a lower rank employee and not promote him to supervisory level because he was known to bet heavily on 4d every week.

I concur too with other comments that you are living beyond your means. 8k is not a huge salary especially when you are living it up like you are earning 12k and above. Not sure whether your wife is working or not, but it do seems like both of you were spending as if there is a double income of 20k or more per month, otherwise how else could you rake up a debt of about 300k.

And this 300k debt does not include your "wife's housing loan".

7th job in 6 years and there is no savings for any emergencies... I really feel bad for you. This can get even more serious if you are jobless again. Think carefully your next step.

If you have yet to share these financial shotcomings with your wife, maybe it is about time to share it with her and work it out together with her; which btw. in a marriage, there is no such thing as "she had 2 personal loan, 1 car loan, 2 credit card and 1 housing loan" as if you and her are personally and individually responsible for the loans under your own individual names. It will be tough to have any plans or budgets when the left hand do not know what the right hand is doing.

3600 AKPK including credit card per month is quite reasonable what. You still have some balance after paying AKPK, should be enough to pay for ah long. Then your family expense you just have to cut it down and share the burden with your wife la.

Damn......speaking as a married man with one kid myself, this is like a freaking nightmare for me.
I ran into a bit of a financial trouble many years ago (but nowhere near this order of magnitude), but luckily I had no kid yet at the time.
That was the most stressful period of my life, and I wish with all my heart that I never have to face that situation ever again.
But I agree with all the commenters here......TS really does seem to be living way above his means and without proper financial planning.
It's not the end of the world, but some adjustments in lifestyle is definitely needed.

put down the ego to show 'the best' to family.. need to face the reality the money figure is not able to cope the lifestlye..

just go to akpk asap..

http://www.daveramsey.com/blog/get-out-of-...t-snowball-plan

Try use this and to track your debt use unbury.me

Good Luck TS.

good to share..

Bro, you (and your wife) need to start taking responsibility on your spending and acknowledge that it is your financial mismanagement that has caused this ultimately. This should be your first step. Then, learn to budget and spend within your means. No one can spend more than what he/she earns. Don't justify this by saying you have 2 kids and no help from relatives. I hate relatives who borrow money from me. Not because I don't like to help. But because I am the last debtor they will pay back, and without interest, and for God knows how long.

This post has been edited by timetokill: Jan 14 2017, 02:51 PM

update:

seek for AKPK - waiting for appointment date
as for now, i'm doing/proposing a repayment timetable which applying snowball technique (if it is successfully) , manange to clear all debt for 8 years max instead of 10 years as per AKPK proposed.

Car loan - called HLB bank for restructuring loan, bank propose/able to reduce around RM5xx monthly but tenure reset back to 9 years. solution: stick with RM784 monthly for another 4years balance.

Personal loan
Bank rakyat-i : submit application for restructuring . bank no reply/too slow/no update until now - solution : AKPK
MBSB : called but advise not to restructuring since the monthly payment is RM533 for 25 years.if restructure will take longer time - solution : AKPK
HLB-I : went for HLB. not applicable to restructure since the loan applied less than 6 months and interest is low from current market (applied during promotion) - Solution : AKPK

**as per now , i'm holding current month payment for above personal loan ..for backup..at least around RM2,500 emergency saving ..since it will go to AKPK btw..


Credit card
MBB : went to bank. able to restructure for fix term 36mons with around 5% P.A. need to convert to islamic credit card, perform balance transfer and convert to term loan..such a long process..as per latest (CRISS checking), saw bank did something/applied for islamic card for limit RM50,000? instead i'm only having RM12,000 outstanding...let see what is goes...
AEON : the service (conversion from credit card o/s to fix term) alreadly been discountinued on 2015 due BNM rule. AEON is not a bank but it is a financial instituition. - solution : AKPK
HSBC : not applicable to convert - solution given by HSBC itself : seek AKPK
RHB : same as HSBC
BRRK : o/s is only around RM2,000..maybe i do full settlement.

** for all c.card above..withdraw cash to maximum..able to settle down some bills and school fees etc..then go to AKPK or term loan

AH LONG - settled down : pinjam wife..but need to pay back monthly term (transfer to her saving since using our child savings/emergency)
UNIFI - can't help. using it
DIGI - convert to lower package , save around RM20-30 only
TNB+SYABAS - use only 1 aircond and 2 fan instead 2 aircond - save around RM50-RM80
AIA INSURANCE FOR FAMILY RM200 - can't cut..it is important

KIDS / KINDERGARDEN FOR 2 RM1,000 - can't cut..its the lowest
COWAY - get the lowest RM120


do part time/weekend for below service (call or pm me)
- format PC /Laptop
- IPTV /android box selling
- IPTV /anndroid box ONSITE/come to house setting - for UNIFI with white box
- MYIPTV underground IPTV seller
- topup seller
- other small online bussiness

Net Disposable Income RM 986.25
Current Installment RM 4475.00
Unsecured AKPK able to assist you to restructure your installment to RM 2345.40
THE PROPOSED INSTALMENT AMOUNT ILLUSTRATED HERE IS NOT FINAL. THE REPAYMENT AMOUNT MAY CHANGE SUBJECT TO THE ASSESSMENT CONDUCTED DURING COUNSELING SESSION

**missout the HLB-i Personal loan..will inform later when the appointment

Your wife working? she can help out too. Any relatives can take care of your kids while both working?

Already help on AhLong part..
For salarywise..she ady full comitment as my previous post..

Relative help? As mentioned before..none..they too much busy with their own family self (as i mentioned before..i didnt ask them to help me on monetary)

Monetary help from relatives? My current salary = 3 family of relatives perhousehold income.(at least they got BR1M)

No rent.. no housing loan. Do you own your house?

Seriously your kid cannot sleep without aircond ? Must be you teach them since baby, so get used to it

I only on my aircond on weekend afternoon, and only 4-5 hours...teach my kid live without aircond

And how far is your office and house ? If really want to save money go work by motorbike, it's not that dangerous as what people think, save petrol, toll and parking fee

This post has been edited by MohdPuskas: Feb 1 2017, 10:18 PM

Ur ctos already down to the hole. so dont bother go into akpk. I done my akpk with agent. i only show up myself on the end of day. if you need the agent number u can pm me.

To give u an idea of severity of your problem, consider this: your net salary 6,500. Even if u manage to save 3,000 per month which is possible but very very hard with a family, you need 10 years to settle your debt without taking into consideration interest . With interest, likely to be 20 years or more. You need to drastically cut your spending and increase your earning capability. Work hard get promoted and excel in your career... This is the best way to get out of your rut... Savings alone very hard to settle your problem ... And when u get increase in salary from 8k, treat it as there is no increase at all, otherwise spending will always move up to meet income

what's with ts obsession over Coway. it's just filtered water man.

i'd say, just cut the coway, buy a filter like 200 bucks? once and fore all.

boil water yourself. save a lot that way.