you are right, i called them and they directed me to BNM,
well, i think it won't help much, anyway, no harm trying what they could offer

Hi,

Want to ask, what happen to the EPF a/cs if someone declare bankruptcy? Still able to withdraw upon retiring age?

if i plan go for akpk...they will normally cancell all my personal cc...how about if i got 1 corporate card with my compnay...but it's under my name?pls advice

This post has been edited by JScomp: May 20 2010, 01:00 AM

Dear All,

I have joined AKPK since last year October 2009. Many people still blurr about AKPK. I have better picture about AKPK. Let me
tell all of you my story.

I have a credit card debt nearly RM19K as of September 2009....it was accumulated since year 2002 (int/late charges/ legal fees about RM4K ) My credit limit was RM5k. After joined AKPK , my counsellor (nice lady ...hehehe) , consult with bank and after nego , the bank
agreed to give disc about RM9k.

so RM19K - RM9K = RM10k (new oustanding amount) and at 8% int per annum instead of 17.5% earlier.

after 9 months , i have paid RM1,800 (RM200 X 9 month) . Final Settlement as of today ...just called the bank ..is RM8,200
RM10k - RM1,800k = RM8,200
> after i have given appeal letter....they gave me RM7K as full and final settlement.


So guys if you really "no jalan" then choose AKPK as your savior. BUt remember ..itu AKPK only help one time...in your life.
and no bad payment after you agreed....payment must prompt.

And....normally you need 6 months or more(after final settlement) if you wanna apply loan (depend on the bank) ...never ask same bank you sangkut...cannot ler..this is what my counsellor and bank officer told me.

So i'm going to apply car loan after 3 month (with another bank which i got acc)...see what happen...

This post has been edited by hanza: Jul 11 2010, 02:36 PM

hi there,

~can i know akpk provide any short term like 3~4 years instead of 10 years ?

~ how about after summit the 4 years plan. Can able settle early ? does it hav any early charges or any hidden charges ?

1. You can ask for short term like 3 ~ 4 years repayment. Depend on your financial ability

2. Yes. You can do early settlement or final settlement. You need to talk to bank directly. You can nego with bank for your final payment/settlement. Remember....AKPK nego for lower int rate only and also slash your late charges/finance charges..bla..bla.....and propose new starting balance or outstanding amount. Bank still charge interest but should be lower than normal interest charges.
e.g 18% to 9% or 8%

This post has been edited by raifalove: Jun 23 2010, 07:11 PM

Who got successfully case that enrolled in AKPK Program and settled. And then able to get either loan or credit card from the same bank?

@hanza : I called and asked, the officer said you can get from the same bank as long as you no longer in AKPK program and records has been erased from Bank Negara.

but i think that was not so easy to apply back on t same bank.

due to my experince, last time i cramp with a bank in CC. Then i ask for reduce interest & freeze my card until t payment is finish.
End up they cannot reduce my interest, but they can help me freeze my card & pay until finish.

after i finish off the payment, i ask for a fully settlement letter from t bank (due with a prove that i already finish t payment )

after some time, i think after 2~3 years. I reapply CC from t same bank & they reject me. Not that, i Apply for they current account & they also reject me.
I check with t bank negara. My name is clear from everything. Luckly my friend work in this bank. He help me check & found that this bank has internal black list me. Then my friend help me appeal to t bank & show them t letter & my recent record of other bank. End up only my name clear from this bank.

So this was a lesson from me. Maybe u can apply, but i think it's was not that easy. Like my case they did not reduce any interest, that mean i keep repay back to t bank until it's was finish. They also blacklist me in they bank.

So be careful when play with this loan or CC. Hope this mesg will help u !

I just visit AKPK for their briefing yesterday. Will meet up an important next week and decide if i were to join

Im not sure how AKPK can help me, maybe u guys can advise
my debt as below

HSBC 10K
HLB 7K
CIMB 6K
UOB 6K
MBB 6K

Among these 5 cards, I only still pay HSBC & HLBB. I paid Rm500 monthly for each card , with interest about Rm150 each.

Among the other 3 card, 2 of the card already been converted to EPP , but after sometime, I still couldnt pay.
As of now, all the 3 cards pending for 6 months and ignore all calls from bank since beginning.

My concerns ,

- I heard akpk will cancel all cards. I wish to keep either one my hsbc/hlb card due to convenient as booking etc. Is it possible ?

- On top of all this, i still have 1 old car (I believe being tow away few days back). still owe around RM14k
Total everything owe about 50k ...so I not sure how akpk can help me since I cant pay much monthly ?

- I manage to pay Rm500X2 (2 card) as of now, but I still have balance about RM700 for me to use (petrol etc). if let say i enroll the prog, I cant pay RM1000 for sure, cos my expenses will be stuck

there is lot more complication in my prob. just need some advise for experience bro.

the best way is get loan frm bank rakyat but i tried a lot and rejected cos need 3 year work in same company. otherwise i wont be stuck till now
haizzz

Yes, they would cancel all your card.
Also, they would look at your car too. But in this case if you need the car for working purposes, they would help you to adjust also the monthly installment. Else if you have a second car or a motorbike license, they would strongly advise you to sell off the car.

How they work is they would look at your monthly income, then help you plan your outflow, i.e. your necessity first then see how much is left. After that, they would help draft a repayment plan to the bank. Obviously your card would be canceled as you "can't" even afford a card.

[quote=J'Daniel,Jul 9 2010, 06:55 PM]
I just visit AKPK for their briefing yesterday. Will meet up an important next week and decide if i were to join

Hi J'Daniel,

In you case, i would suggest u try to borrow money from wife/relative/frens/mum/daddy..etc...and settle all the CC . (if can't get personel loan from banks)

If you join AKPK, you have to cancel all you CC.

I have settled all my debts..credit card and HP.....in June 2010. I borrowed money from my wife for about RM15K and
made full & final settlement in June 2010. After that, i quickly write a letter to AKPK and tell my counselor to
take out my name from AKPK program immediately. (joined them Oct 2009)

On July 9, 2010, i have submitted car loan to banks ......will see what is the result next week...
if kantoi..it means i have to wait at least 6 - 12 months ....or 2 years...


Good News !!!

After made full & final settlement on 30-6-2010, Car loan apply on 12-7-2010,
on 14-7-2010 bank has approved my car loan....

It means... even i just quit AKPK about 2 weeks....bank still consider my application and succesfull

This post has been edited by hanza: Jul 15 2010, 12:12 AM

Hanza : You write them an appeal letter for the propose discount amount or the bank give you the amount of RM7k that you need to settle?

I did not have a stable job for the past few years. Only lately found a stable job and all situations come back to normal meaning there are less worry of financials.

I have stop paying 4 of my credit cards for the past 5 years and i think total of the cards past 5 years was around 50k (for all) I did not receive any bankcruptcy letter from the bank yet, however since I am much more stable now, thought of going to see AKPK to help.

But what will my minimum payment for my debts? As I am quite new on the job therefore does not allow me to take off and see AKPK. Please help what shall I do. I know for definetely I am on CTOS or CCRIS but bankcruptcy dunno.

Lost of direction already. Please help.

You mean you owe RM50k for all your 4 credit cards and you have stopped paying them for the last 5yrs? How could that be? They must definitely somehow call you non stop the moment you delay your payments.

Anyway, I think AKPK would still accept your case. They would take into calculation your total pay vs your monthly essential spending before coming up with a payment plan for you towards the bank.

Also, spend some time to go through that topic to understand further on AKPK.
Btw, you'll need to owe someone RM30k before they can sue you bankrupt. Your RM50k are from 4 different banks thus you're not being sued for bankruptcy.

if i joined akpk, can i apply for house loan. i joined akpk to pay my cc and to save some money.

hi narutoboyz2,

i strongly suggest you to check with all 4 banks on your outstanding amount first... by then you can determine how much actually you owe with those banks.

as for the minimum, AKPK offers 9% to 12% depending on the negotiation with the banks... what i can confirm is that you will not need to pay as much as RM2500 (assume 5% of 50k) it will be lower than that, for sure...

should you need further assistance, you can always call AKPK's toll-free number at 1-800-88-2575

nope, you cant.. but, it is all subject to banks approval...

Dear all, I'm back I went to AKPK to listen to their briefing and was being told to get the latest statement from my 3 outstanding banks...gosh...the owing amount is huge it is double of what I have use for my credit card.

But then I got questions, I was in 1 of the bank and the officer advise me to look into getting personal loan, and apparenty Bank Rakyat offer such loan. Will it better to get the personal loan and settle off the payment or still go through AKPK?

Confuse again....

Go to AKPK, getting a personal loan to settle another loan is like digging one hole to fill another. And as you mentioned, the 'advice' comes from a bank officer who more or less just wants more business.

AKPK would be able to offer you another point of view before you decide on what you want to do.

---

Added on September 18, 2010, 5:13 pmIf I am not wrong, the banks cannot combine the total credit you owe to issue you a bankruptcy letter. So unless you owe one single bank RM30k, they cannot consider you bankrupt, some can help clarify this.

However, surely you would have received tons of warning letter for payment? And please, do go see AKPK before it is any later than it is already.

This post has been edited by fuzzy: Sep 18 2010, 05:13 PM

I called up respective bank for the outstanding balance as I wanted to make the full settlement.

Hong Leong Bank confirmed my outstanding balance last week for 3 times that the amount is RM3k ... I even called up for double confirmation as I want to make the payment today.

The officer confirmed that the amount is RM3k .... after 30minutes, the officer call me say sorry that the figure should be RM4k instead of 4k.

So what you guys think? I pay for 3k or 4k?