hi all,

please help me manage on my below 9 product/facilities DEBT.


format ( current outstanding/total loan | Year started loan | tenure | monthly payment )

CAR LOAN (HP)
HLB RM45,XXX / RM69,100 | 2012 | 9YRS| RM784

PERSONAL LOAN
BRRK-I RM103,XXX / RM110,000 | 2015 | 10YRS | RM1538
MBSB-I RM76,XXX / RM80,000 | 2013 | 25YRS | RM533
HLB-I RM30,XXX / RM30,000 | 2016 | 5YRS | RM715



CREDIT CARD (current outstanding / total limit | 5%)
MBB RM12,888 / RM12,000 | RM6XX
BRRK RM2,100 / RM3,300 | RM15X
RHB RM5,800 / RM7,000 | RM30X
HSBC RM6900 / RM8,000 | RM35X
AEON RM11,000 / RM12,000 | RM55X

AH LONG @ LICENSE MONEY LENDER
RM12,000 CASH OR RM3,200 FOR 6 MONTH



TOTAL = RM331,000 (exclude AHLONG)




SALARY = RM8,000 (AFTER DEDUCTION IS RM6,500 NETT)


other commitment
UNIFI RM179 + GST
DIGI RM180-RM200 (POSTPAID)
TNB+SYABAS RM150-200
AIA INSURANCE FOR FAMILY RM200
KIDS / KINDERGARDEN FOR 2 RM1,000
COWAY RM1XX

non-fixed
VEHICLE SERVICE RM100-RM150
TOUCH AND GO RM100-RM200



summarize;

BANK COMMITMENT
LOAN RM2788
HP RM784
AHLONG RM3,200
C.CARD RM2,000

FAMILY COMMITMENT / TO SURVIVE
RM2,500 (all above)

exclude toll, petrol food etc


The CHALLENGE is to reduce total product/facility going to AKPK as much as possible.


current self-approach (call banker 1 by 1)
1. MBB CREDIT CARD = willing to convert to fix term..4.95% pa.3yrs..monthly rm306 BUT need to reduce/cash paid limit below 80% (RM9,600 ) then able to convert
2. HSBC CREDIT CARD = 9-12% up to 5yrs but will approval/checking records
3. AEON CREDIT CARD = manager will call back since the facility (convert credit card to fix term) already been terminated recently (2016)
4. RHB CREDIT CARD = NO as stated by call operator
5. BRRK CREDIT CARD = no need , outstanding 2k can settle (after i cash out others credit.card available..perhaps?)
6. BRRK PERSONAL LOAN = need to meet manager at branch (will do)
7. HLB HP & HLB-I PERSONAL LOAN = call no answer, need to go branch
8. MBSB PERSONAL LOAN = call no answer, will re-try


really appreciate if someone in LYN forum able to offer some OUTSIDE 1 big loan to cover all above loan
(10-20 yrs tenure)
plan to get OUTSIDE/NON bank loan , settle all debt , get low/clear commitment as per CCRISS report, buy a house using bank loan, after 5 years refinance house, pay lump sump outside loan

FYI, this month-end i will go for AKPK. Already met then before (but not registered yet) .

UNIFI can downgrade back to Streamyx back?im IT person..remote/VPN/high speed internet is part of my life
DIGI = good suggestion..will do it
TNB+SYABAS = can't help..baby need to have aircond else wont comfortable..fan wont help..outisde have bad weather.
KIDS / KINDERGARDEN FOR 2 RM1,000 = its the cheapest since it cost for 2..one of it infant..market now is RM500
COWAY = will do .thanks

QUOTE(remy_tailo @ Jan 12 2017, 12:40 AM)
UNIFI can downgrade back to Streamyx back?im IT person..remote/VPN/high speed internet is part of my life biggrin.gif -->use your time to uber/grab instead of watching internet. streamyx not cheap also. dont bother. ..is not that i don't want to..but since i were working in IT Banking sector..weekend also need to standby..else any issue on transaction, people wont able to withdraw their money (i'm back-end coder)

DIGI = good suggestion..will do it -->change to umobile. free 1gb each month. sufficient for basic use at rm30 with 214minutes of calls.
was using UMOBILE..but coverage not good since i staying at beranang..

TNB+SYABAS = can't help..baby need to have aircond else wont comfortable..fan wont help..outisde have bad weather. -->move everyone to one room. set room temp to 27. this should lower at least rm50.
done..current 2 months able to reduce RM30-RM50

KIDS / KINDERGARDEN FOR 2 RM1,000 = its the cheapest since it cost for 2..one of it infant..market now is RM500
-->kindergarden is not compulsory. if wife not working, ask wife to teach. if die die must go, send only at final year.

wife working..if not why i should sent to kindergarten? parents? passed away already.

COWAY = will do .thanks
-->check out where they dont have service and claim you are moving there. check how much to break contract.


you will ask..why wife not helping? bcoz she had 2personal loan, 1 car loan, 2 credit card and 1 housing loan
why we got a lot of personal loan? to survive..given a best food,education,cloths all for kids and wife since we doing all at own (relatives too busy with their own business)

why too much? this loan since 2010 untill now.


*
开源节流 = open new income, shut expenses

not prefering to do..if U are executive / professional especially working in banking sector, brankrupcty is a taboo..management will look on you..perhaps next job you will not get..btw this is my 7th job change for 6yrs..since banks now keep firing people..

the reason i do apply AHlong is because no relative helping me at first hand..since my wife given birth my 2nd kid recently..cost for delivery , confirment etc..parents?her mother ady passed away 1mon before she deliver my 1st son..starting that time, we struggle ourself till now

surviving bro..
when u married..and you dont want to susahkan your parents..you move out to find new house.
when ur wife pregnant..need parents (esp her mom) but she passed away 1mon before..need to cash/hire confirment lady
when ur wife pregnant 2nd time (after 2yrs gap)..then urself been fired from job..and jobless for 3 months..monthly paymnet car etc?credit card
keep continuing.

nowdays relatives mind their own business..if do help,, they will keep repeating and told whole world about their helpling..indebt etc

its true..akpk is last resort..now finding some way to solve all above

ady meet them
but my case quite difficult.

BRRK-i islamic ..since it islamic loan, BRRK will not cooperate with AKPK..worst case the monthly will be increase more than i didint do AKPK
MBSB ..same case..monthyl will be up..or dragged more years..25 yrs currently is quite long

after roughly calculated by the akpk, the amount monthly need to pay is RM3600 including c.cards for tenure 10yrs (before AKPK RM3500 without credit card)

only the concern is akpk for 10yrs rm3600..non-akpk is rm3500 but without credit card and no tenure
both way didnt solve ahlong issue

This post has been edited by remy_tailo: Jan 12 2017, 10:30 AM

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

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)

pff...i'm still survive.but trying to find ways for additional income as my current salary already fully utilize for loan payment+bank commitment.