I am planning to refinance my asset which I bought 7 years back at RM380k to RM750k with current market.

The reason I need to streamline all debt i.e cars and other loan into 1 loan.

It is possible and any advise on this?

after 1st drawdown, whats next? how long for balance drawdown?

I am under akpk. Can I refinance my house to pay off the debt ? It is around 20k debt .

Hope this is the right place for this post... Am a rare user on forums but thought i'd try my luck here as i am clueless what to do

I have a major crisis at the moment to which i seek the advise of any financial experts in here in "bolehland"

My application for a home loan (2nd property) was rejected by all the banks that I sent in my application. This was a major shocker as I currently only have my first property home loan and 2 credit cards that I only use for purchasing flight tickets (was working out of Malaysia)

After digging deeper, i found out that the 2 credit cards were maxed out and has missed many payments. Later i discovered one card info was used by a troubled "friend" without my knowledge to fuel his drinking and gambling habit (i shared the card details several times to help me purchase a flight ticket). He admitted it theft. He also admitted taking a personal loan on my name by forging my signature.

The second card was unfortunately cloned (many cases i was told) where I was working previously. What was worst is the bank here allowed the spend to go beyond its limit by 50% and they claim its normal. I didn't not get any notification/cross check from them.

For the past few months, I have been disputing the credit card over limit charges (second card) and clearing the personal loan plus the 1st credit card. Its never ending and every morning they second card bank calls me for payment. My CCRIS is definitely in bad shape now but CTOS is clean.. My "friend" has gone missing again.

I am looking for advise on whether is there anyway i can refinance my current home which is valued about MYR 1.5mil (info from The Star classifieds)
I dont mind forking out Kopi/KTV money to the loan officer just to make this issue go away. Licensed Money Lenders are sharks and demand extremely high interest rates or collaterals.. Some are definitely scammers which is why I am afraid to deal with them..

I work in a global company as head of office and earn above MYR 20k a month, single, no hire purchase loans.. 1st property (landed house) was purchased in 2011..
Even with that salary, and no dependants, its not helping as the personal loan interest whacks quite a bit

Really need the help of any good soul(s) here

thanks

To @Contestant, @ssh2222 & @lifebalance,

much appreciated on your response to my post

am currently out of the country for work till tomorrow night. will connect on with both Matt and Keith once back..

as for reporting my "friend" for fraud to the cops, honestly i want to do it but i can't do it to his folks.. hence biting the bullet and suffer in silence

@contestant, the loan amount was 110k @ 8% monthly interest..

regards
at times i don't know what to do but laugh at myself..

Checked with the bank but got passed around like a fool. credit officer ask me to refer to customer service, cs asked me to refer to branch, branch ask me to refer to direct banker. never ending.

so here's some brief replies from the banker.
-those amounts are predicted amount.
-any excess payment will be refunded.

but what puzzled me is why i have to pay extra and get refund later instead of paying exact amount. they never explain why predicted amount is more by months. they predict i stop making monthly payments? 

first time selling house so kinda confused.

thanks.