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> AKPK, debt issue, anyone got a question to ask them?

Petre
post Dec 26 2018, 09:59 AM

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This post has been edited by Petre: Dec 26 2018, 12:43 PM
MARVIN333
post Dec 26 2018, 01:43 PM

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QUOTE(watabakiu @ Dec 25 2018, 09:21 AM)
Banks still give out monthly statements, and I suppose that's how @MARVIN333 checks. Hmmm wondering the same too. give you example...

Monthly amount paid by AKPK to bank X : RM70
Monthly Finance Charge by bank X : RM50
effective deduction in reducing debt : RM20!

Not sure how AKPK determines the amount to pay the FI, as it pays more to one bank, and lesser to the other. But I think the plan is to pay 'more' to bank that is unwanting to lessen the finance charges or the lengthen the repayment period, and 'less' to banks that gives out lower finance charges. So once AKPK settles with Bank X, the monthly amount one pays to AKPK would be channeled to the other banks you have outstanding amount with.
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that's what I was thinking too. anyway thanks for your opinion.

it will be good to hear from those who have settled with akpk as well. Kiefer do you mind to give your cent about this?
Kiefer
post Dec 31 2018, 09:01 AM

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QUOTE(watabakiu @ Dec 25 2018, 09:21 AM)
Banks still give out monthly statements, and I suppose that's how @MARVIN333 checks. Hmmm wondering the same too. give you example...

Monthly amount paid by AKPK to bank X : RM70
Monthly Finance Charge by bank X : RM50
effective deduction in reducing debt : RM20!

Not sure how AKPK determines the amount to pay the FI, as it pays more to one bank, and lesser to the other. But I think the plan is to pay 'more' to bank that is unwanting to lessen the finance charges or the lengthen the repayment period, and 'less' to banks that gives out lower finance charges. So once AKPK settles with Bank X, the monthly amount one pays to AKPK would be channeled to the other banks you have outstanding amount with.
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QUOTE(MARVIN333 @ Dec 26 2018, 01:43 PM)
that's what I was thinking too. anyway thanks for your opinion.

it will be good to hear from those who have settled with akpk as well. Kiefer do you mind to give your cent about this?
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mmmm, to be honest I am not sure how it is calculated. What I knew from bank that they said the bank statement will be not correct as they will need to manually calculate everything. beats me.

Anyway...what I know is for example.

month 1: paying 2 banks via akpk total rm250 mthly.
Bank A = rm150
Bank B = rm100.

month 11: settled bank A. continue with bank b. You pay rm100 to akpk for bank B.
If you pay 250 this month, akpk will only pay rm100 to bank b with outstanding rm150 in akpk account. they wont pay more to that bank. keep as balance and you can use for next month etc (no need to pay next month and also month after next just pay rm50).

if you want to pay more to the other bank, i think possible to consult/arrange with akpk directly. Call in to ask first.

i would think best to check ctos/ccris report at least yearly also login to akpk portal to check your akpk account status.

Thanks

potenza10
post Jan 8 2019, 03:20 PM

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QUOTE(Kiefer @ Dec 31 2018, 09:01 AM)
mmmm, to be honest I am not sure how it is calculated.  What I knew from bank that they said the bank statement will be not correct as they will need to manually calculate everything.  beats me.

Anyway...what I know is for example.

month 1: paying 2 banks via akpk total rm250 mthly.
Bank A = rm150
Bank B = rm100.

month 11: settled bank A. continue with bank b.  You pay rm100 to akpk for bank B.
If you pay 250 this month, akpk will only pay rm100 to bank b with outstanding rm150 in akpk account.  they wont pay more to that bank.  keep as balance and you can use for next month etc (no need to pay next month and also month after next just pay rm50).

if you want to pay more to the other bank, i think possible to consult/arrange with akpk directly.  Call in to ask first.

i would think best to check ctos/ccris report at least yearly also login to akpk portal to check your akpk account status.

Thanks
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inside akpk portal can see status?
omnimech
post Jan 8 2019, 03:26 PM

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I am really curious, are there really that many people who have debt that are totally not manageable.

i never understood what AKPK is for .

I have gotten calls from banks and people claiming to be AKPK who said that I need help with my credit card debt.

The one thing I find off is that I dont have debt to begin with. HOWEVER, I dont get this calls every month.

only on the months that is in line with a big purchases that is more than 5k - 10k

Are the banks sharing our information to people who shouldnt have it ?
Kiefer
post Jan 8 2019, 04:28 PM

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QUOTE(potenza10 @ Jan 8 2019, 03:20 PM)
inside akpk portal can see status?
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Not sure if you are looking at application status... I am not sure where you can follow up with the application status online or not as last time my application is done manually not via online.

https://www.akpk.org.my/content/199-dmp-deb...ication-process

Possible you can check the application by calling their helpdesk directly.
MakNok
post Jan 9 2019, 03:55 PM

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QUOTE(Kiefer @ Jan 8 2019, 04:28 PM)
Not sure if you are looking at application status... I am not sure where you can follow up with the application status online or not as last time my application is done manually not via online.

https://www.akpk.org.my/content/199-dmp-deb...ication-process

Possible you can check the application by calling their helpdesk directly.
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Wow...never knew that everything must do online now.
Many many years back...
Give a call and make an appointment.
Listen to talks.
Then proceed to meet up with documents.
Wait
Approval done.

gheyfriend
post Jan 15 2019, 10:59 AM

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guys..i need feedback from the oustanding amount from Bank..for example, i borrow 50k from bank A and installment for 5 years which amounted to total payable RM60K.
now im in considering whether to get personal loan to cover or AKPK dependings on my commitment la.
i went to a bank B to check if can borrow to consolidate and from the credit history listing, i saw Bank A 50k outstanding instead of the total 60K. so, im not sure if i borrow 50k from Bank B, it pays the entire sum of 50K to Bank A, if this means i fully settle Bank A? Or do i need to inform Bank A then i will settle it all.i scare later after 50k, Bank A still say not enuff..
MakNok
post Jan 22 2019, 09:39 AM

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QUOTE(gheyfriend @ Jan 15 2019, 10:59 AM)
guys..i need feedback from the oustanding amount from Bank..for example, i borrow 50k from bank A and installment for 5 years which amounted to total payable RM60K.
now im in considering whether to get personal loan to cover or AKPK dependings on my commitment la.
i went to a bank B to check if can borrow to consolidate and from the credit history listing, i saw Bank A 50k outstanding instead of the total 60K. so, im not sure if i borrow 50k from Bank B, it pays the entire sum of 50K to Bank A, if this means i fully settle Bank A? Or do i need to inform Bank A then i will settle it all.i scare later after 50k, Bank A still say not enuff..
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don;t understand you....you borrow 50k from bank A...
and now you want to borrow another 50 k from Bank B to cover the loan fully at Bank A...

it like never ending merry go around
It better to go AKPK if you have problem even paying the Loan from Bank A initially.

it show that your debt is unmanagable


hellkvr
post Jan 22 2019, 11:37 PM

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Hi all is there any second chance to re do akpk?
Kiefer
post Jan 23 2019, 09:39 AM

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QUOTE(hellkvr @ Jan 22 2019, 11:37 PM)
Hi all is there any second chance to re do akpk?
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As i know of, it is once only. try call akpk direct for clarification.
Quazacolt
post Jan 24 2019, 09:18 PM

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QUOTE(underworld @ Nov 22 2018, 05:19 PM)
all canceled , no need pay fees
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just wanting to double confirm, the cards are as good as terminated/cancelled (physically cut/shredded) right?

so once you go into AKPK and gotten out of it, it will be the same as a clean slate, 0 credit cards and if you want to use again, you need to reapply?
Kiefer
post Jan 25 2019, 10:04 AM

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QUOTE(Quazacolt @ Jan 24 2019, 09:18 PM)
just wanting to double confirm, the cards are as good as terminated/cancelled (physically cut/shredded) right?

so once you go into AKPK and gotten out of it, it will be the same as a clean slate, 0 credit cards and if you want to use again, you need to reapply?
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Once you are on AKPK, all credit cards will be become suspended and the accounts will be parked aside for settlement.

When you cleared all and out from akpk, you are considered debt free. If you really, really need to get a credit card (despite now we have debit and prepared credit cards), you need to reapply and it is up to the bank's approval. I think the bank would be happy to get it approved.

Quazacolt
post Jan 25 2019, 10:08 AM

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QUOTE(Kiefer @ Jan 25 2019, 10:04 AM)
Once you are on AKPK, all credit cards will be become suspended and the accounts will be parked aside for settlement.

When you cleared all and out from akpk, you are considered debt free.  If you really, really need to get a credit card (despite now we have debit and prepared credit cards), you need to reapply and it is up to the bank's approval.  I think the bank would be happy to get it approved.
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Thanks for the reply bro

just wanting to confirm if post settlement/AKPK, it'll be write off/cleared literally from suspended state, instead of activate back.
meaning to say, there won't be any credit cards, and if want you'll have to re-apply, correct?
Nuke
post Jan 25 2019, 11:18 AM

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QUOTE(hellkvr @ Jan 22 2019, 11:37 PM)
Hi all is there any second chance to re do akpk?
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Case to case basis, just go to AKPK and discuss with the counsellor.

Kiefer
post Jan 25 2019, 01:23 PM

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QUOTE(Quazacolt @ Jan 25 2019, 10:08 AM)
Thanks for the reply bro

just wanting to confirm if post settlement/AKPK, it'll be write off/cleared literally from suspended state, instead of activate back.
meaning to say, there won't be any credit cards, and if want you'll have to re-apply, correct?
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Post settlement of AKPK (meaning cleared all and out from AKPK), the existing cards are cleared and closed. If want, go re-apply new card.
Quazacolt
post Jan 25 2019, 04:22 PM

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QUOTE(Kiefer @ Jan 25 2019, 01:23 PM)
Post settlement of AKPK (meaning cleared all and out from AKPK), the existing cards are cleared and closed.  If want, go re-apply new card.
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Thank you very much on the reply bro Kiefer notworthy.gif:
Kiefer
post Jan 25 2019, 05:09 PM

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QUOTE(Quazacolt @ Jan 25 2019, 04:22 PM)
Thank you very much on the reply bro Kiefer notworthy.gif:
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Good luck bro. My view, best not to touch back credit cards (unless you can control the spending/payment), else you always can go with prepaid credit cards.

Cheers.
Quazacolt
post Jan 25 2019, 06:08 PM

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QUOTE(Kiefer @ Jan 25 2019, 05:09 PM)
Good luck bro.  My view, best not to touch back credit cards (unless you can control the spending/payment), else you always can go with prepaid credit cards.

Cheers.
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Agreed bro
fuzzy
post Jan 30 2019, 04:31 PM

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QUOTE(MDLT Eht Nioj @ Jan 29 2019, 03:39 PM)
May I know what's the advantage of settling your debt manually with the bank (via accepting the bank's offered instalment plan) vs doing it via AKPK?
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I think the big advantage is you are still free to apply other credit lines as long as the other banks accept it.

If you go through AKPK, you might bet a better deal but at the same time you will get a record that will prevent you from getting a new credit line until the debt is cleared.

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