Thanks for all that replied.

The reason I asked here is coz I see some signs that I will need AKPK help soon... I mean very soon.

By the way,

If you all wanted to know how much total monthly payment for 10 years under APKP.

This is the formula.

total debt x 0.013 = monthly payment ( however will still subject to bank to accept or review )

can see that now lotz of ppl are "stuck" with credit card... i think the best way is bank negara should take some action like each person should allow to apply one visa and one master card no matter form which bank... then only can reduce the "huge" debt amount....

will that help when the banks can increase the credit limits (as they wish)?

May be it is the responsibility of the cc users to pay off every month.

CC can be two blades of a sword, if you use it properly, it brings you convenience, security and for emergency.

If you do not use it properly, then it become a big debt, overspending and high interest.

Like what we can see in the threads, it is not related to personal income for those who are in debt. It is about their spending and paying habits.

Whether you have high or low salary, without proper financial management, you will fall into the trap.

yes, i agree...it is about proper management of your personal finances....not putting the blames on the plastic cards...if u have the discipline, you wun fall into debt trap (unless emergency)

That is probably why the government introduce the "service tax" charges to deter consumer on holding too many cards.

I enrolled with AKPK since last year april. I can only say AKPK really can help if you really no more "jalan".

you can actually choose AKPK to temporary help you (choose the maximum tenure), and settle your debts when you are ready to do so.

any one with debts who can't pay or find difficulty servicing the minimum payment every month to your cc, you got no choice, go for AKPK.

after you enrolled. try to get more salary/income, or start some small business to make some money so that you can repay your debt faster.

you can still open up a business current account after you are enrolled to AKPK, only thing you cannot get loan/cc. think about it, that might be temporary only. if you do not settle it before bankruptcy, situation will become worst......

decide and do it immediately.

may I know how AKPK can help in solve debt issue ?

is it possible to convert all my cc debt into one term loan account ? or can AKPK help to get loan for me ?

i dun wish to cancel my card as i have no issue pay for my normal spending. Problem rise is when i jobless for few months so use up my cc, and now min is too high. i tend to keep 2 of my cc for usage

they would help draft up a repayment plan and present it to the banks.
So yes, your cards would be cut and changed into term loan. You would not be having any unsecured facilities during the time you are enrolled with AKPK.

If you really think you have no way out, go pay them a visit.

yes.. AKPK do really can help ppl in restructuring their debts..... anyhow, AKPK do inform as long as you are paying them the amount stated, then you are out of problems.. but if you missed it, then all your debts with CC will back to normal and those legal letter will starts coming again... you can opt to pay faster, but not to them, you have to pay the "faster amount" directly to bank... which mean.. you have to pay AKPK and the additional directly to bank... by doing so, it will cut short your tenure with AKPK and clear off your name from CCRIS...

real life experience...
1. pay your akpk instalment monthly...
2. save money
3. when enuf call the bank directly and ask for full and final settlement, negotiate for discount

o/s final settlement
SCB 15K 7.5K
CIMB 11K 6.5K
EON 8.5K 7.5K
CITI 4k 3.5k

will save MORE!!

Hi,

Besides cancel all the CC, is there any other things, like mobile phone, astro, internet, etc need to be cut also?

Just out of curiosity, if a person has problems with his personal loan and he goes to AKPK does this mean his credit cards are all canceled as well?

This post has been edited by otisdog: Apr 14 2010, 09:37 PM

Means you can still open business current account as long as you are not under bankruptcy?

But if I not mistaken, your name will be recorded in CTOS, or was it CCRIS.

To lil twist,

I hope you are able to give some advise on my situation. After reading many posts here in this forum, it gave me some kind of idea what akpk's role are.

I guess I have the highest debts among the rest.

Currently I have debts totalling approx RM160k including interest of RM40k. I have not been paying since 1++ year ago, trying to avoid the debts and letters from banks, lawyers etc... I finally decided to sell my house and paying off all the debts at one short and begin a new life again... My house just sold and would be getting back around RM125k which is I guess is enough to pay all the debts depending how much akpk neg with my banks...

My questions are :
1) Do you think akpk could help me to reduce the principal amount if I pay in 1 lump sump? If this could never happen, do you suggest me to neg with banks alone rather than going thru akpk.

2) Do you think I should take the monthly repayment option or settling in full amount? I am hoping after settling the debts, I have some leftover to pay for house downpayment, since our house has solf off and I have a family to care off.

I hope you are able to assist me on this.

AKPK is good solution to those facing darkness at the end of the tunnel

(1)for people who taught that they can do "tai chi" every minimum monthly repayment but finally meet it match.

(2)for people who have many cards and personal loan but also "tai chi" every month with those free interest balance transfer...etc

AKPK can help you by reducing your minimum monthly payment which you are paying now as much as 70% to 80% with it maximum 10 year debt program scheme.
Once you on this AKPK Wagon,please don't even think of missing it repayment schedule, as AKPK will only help you one time in your lifetime.

Hi all,
Do AKPK handles company debt case?

Nope...
it handle for individual only