I currently have a total loan of RM10,000 and am looking for advice on debt consolidation. My monthly income is RM2k, and my CTOS score isn’t very good. I’ve tried applying for personal loans from banks and platforms like BigPay but got rejected.

Are there any reliable agencies or organizations that offer debt consolidation plans for someone in my situation? Any advice would be greatly appreciated!

https://www.akpk.org.my/

AKPK

Wow. Monthly income just 2k but got 10k loan. I myself need 5 only then can have 5k saving

Is there any alternative to AKPK?

AKPK is safest route right?
Why reluctant to do so?

Anyhow TS record have been scarred..... Just need time to clean it up

Yes. find a 2nd part time job to supplement your income to pay off the debts.

If your current 2k paying day job tied you up for whole day mentally and physically with little time to do 2nd job ..... its time to find a new better paying job.

This post has been edited by alanyuppie: Jan 17 2025, 08:32 PM

Last time got bank agent tell me that the more i apply for loans and got rejected within 6 months gap, the power my ctos score :/

Anyways recommend u to go to AKPK terus

AKPK is the only option. Personal loan or other loans will only dig a bigger hole for you due to interest.

Legal loan? Go AKPK

Illegal loan from AhLong? Find ur local ADUN or straight go find Michael Chong.

Why you seem reluctant to go for AKPK? The more loan you apply to cover existing debt, the worst your record will be. There is no 2 ways about this, go AKPK.

if u need to use another loan to cover existing loan then better go for AKPK

once in a lifetime only

try discuss with the bank loan you took from.
ask for extend loan period to the amount you can afford.

Aeon credit services?

U have a 10K debt but yet checking u postings for the last few months its all about buying phones and even a car.

Sharp eyes but perhaps TS only uses LYN for advices on buying stuff, so it's easy to magnify on that... But I do have to say, for a RM 2k monthly pay, there's a lot of purchasing needs..

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2k is not enough for basic living in KL, maybe TS can clarify where you stay and how much are you saving after daily expenses like food, house/rental, car etc.? Adding with consistent search for loans based on your past posts, it sounds like you are living way above your means -- on that I agree AKPK is your only way and there is no shame in it. Stop the accumulating interests and pay them all off for a fresh start, even if it takes years.

I live debt free (except housing loan) and always pay credit cards in full (0 interest, only rebates). I own a local car and mid range phone/PC by choice as I enjoy having the freedom to eat what I like (barring health concerns 🥲). I think you might enjoy the feeling of not thinking about loans, once you have a taste of such freedom.

if your ccris/ctos score is bad, you cannot borrow from licensed lender anymore.

unlicensed lender is one way but you have to be tough on the repayment.

else borrow from friends/relative but you must pay it back.

Applying another loan to cover your existing loan is what some say “gali lubang untuk tutup lubang”. It’ll be a never ending cycle. Change your spending habits. Go apply AKPK. Find another job. Good luck.

Unlicensed money lender should never be the option, not even last choice consideration. Nobody can tell you will not get harass even though you have paid multiple fold of the 10k down the road.

What are the valuable you have in your possession?

Sell all that: phone, computer, even motorbike (take public transport to work)

Else do part time - grab food delivery

borrow 5k from 2 friends, interest free, and 'promise & commited' to pay back within 2 yrs. ~400/m

Sorry TS, wanna tumpang/hijack thread a bit.

Monthly income 8.5K. Monthly commitment like approx 2.5K.

But now got around 20K cc debt (13.5K + 6.5K).

Thinking of applying a short term (12-24 months) personal loan to consolidate it.

Reasonable?

This post has been edited by thales.of.miletus: Jan 19 2025, 11:08 PM

Balance transfer to another bank
Fixed interest rate for 12-24 months

will the overall interest rate be lower than taking out personal loan?

currently the CCs that i have got 6K and 13K limit - both maxed out. Do i have to apply for a new card with different bank, or..?

never do any of this, so somehow, somewhat clueless.. and dont wanna fcked-up my financial planning again.

Balance transfer is usually the lowest rate, but you need free credit card balance to do that.

Are you working professional?
Can try BSN-i professional loan for debt consolidation

Can pm me if you need banker contact detail to apply.

AKPK would be the best way or you get 2nd job, my advice is whenever you received a job offer with higher pay then go interview first. If you get your bonus, try pay your debt instead of buying things you want.

Thanks for all the replies over the past few days. Here’s an update on my current status:
I found out that my total loan is actually RM5k. After selling all assets, I managed to gather RM3k, leaving me with RM2k still outstanding.

Should I ask my company for financial assistance instead? I have a good track record with them,as my previous loan of RM8k has already been fully repaid.

Here are a few points to note:

1.I don’t want to apply for AKPK due to the negative consequences (e.g., being unable to apply for loans or being blacklisted by the bank).

2.Borrowing money from friends or family isn’t an option, as they can’t afford to help.

3.My company doesn’t provide bonuses, so that isn’t an option either. We haven’t received any bonuses for the past two years due to the company being very tight with money.

4.Regarding my earlier mention of buying a new phone or car.It’s just a plan for the future. I’ll only make such purchases if I can afford them, but for now, my focus is on clearing all outstanding debt.

Lastly, I’d like to know where I can get a loan for RM2k aside from my company. I don’t mind a slightly higher interest rate, as I’m committed to repaying the loan.

can try rhb easy loan via the kiosk machine or tng app

can try this method, buy new hp from shopee n use spaylater, try to find shop that allow 6 month instalment then sell off the hp online

buy those new hp just came out so is more easy for you to sell off, if the hp cost only 1k then buy 2 unit

try to utilize their coin when buying and hopefully you no need to lose any money after you sell, then you can get 6 month instalment for 2k interest free

U have any Credit Card? If yes, just cash it out by topping up Boost/TNG/Grab or other ewallets. The amount charged to CC u can convert it to installment.


This method u will lose even more than getting loan from ahlong.

If the phone u buy 1K u most probably can only sell at 800 so u lose 20%

RM 10k what type of loan?

wtf income 2k ?

suggest u move out of ur comfort zone and find other opportunities elsewhere -

mak cik kerja cuci tandas - with OT also earn more than 2k.

apply loan got refer ctos ka?
not ccris meh?

it is best to settle the remaining loan slowly. it is only 2k!! never try getting another loan to settle it. orang kata, takdo penyakit cari penyakit lagi!! after settle, from then on, only beli when you ada xtra...

I am curious of what kind of job TS working for only 2k per month?

2k only, call ur bank see if can settle it within a period. Normally they will help if u call and ask. I think u can settle it within a year even pay rm200 per month.

if u have a car not more than 5 years, try grab when u're free especially peak hours. won't earn much but at least can lease ur burden a little bit.

never ever try to borrow to cover ur debt, this cycle will never ending.
set ur goal and timeframe when you gonna repay it back.

draft ur monthly commitment, minimalize which is not necessary and needs.
the important thing is you must set a goal, and follow it.