Yes.....AKPK can be easily clear if the current job you have have decent bonus payout yearly.
If not....better keep excess money for any emergency.

Will keep the excess money
If my personal loan is dated 18/1/2019, is it i can apply akpk after one year means february 2020 ?

Yes...
AKPK mean all debts...personal loan..credit card...

Even now..can apply for AKPK ..no need wait feb 2020.

oh, i thought they wont accept the new loan which just apply not more than one year

Got such thing meh?
Then you better call AKPK and ask..
I also blur on this condition.

hi bro,
kindly check your PM.
i have attach excel file as per your request.

Actually i got the idea from HSBC bank statement, i more or less follow the formula as per their calculation.

oh ya....before i join AKPK program...
i have tried to settle fully some of my credit cards debts..
end up overpaid RM400plus for HSBC credit card.

chase them at the start (which is 9 year plus back) to offset it paying other AKPK HSBC debts....by phone call...follow up....many times.
But sadly no action taken and i left it be......UNTIL it was offset to clear one of HSBC AKPK personal loan debts recently last year.
and i notice it by chance thru HSBC bank statement which they email yearly without failed.

Yup...it take them 9 years to do automatically.



at the Excel file..
Just keyin your Outstanding debts when you 1st start AKPK.
keyin the monthly repayment.
The rest will change value accordingly and you will know how many years you need to clear.

i use that excel and file and it always more or less accurate.

Like last month, i projected my UOB debts to finally cleared.
check with akpk UOB on my excess payment less than rm50..

AKPK UOB confirmed all settled,...
ask me to come down to UOB branch...fill in form to claim refund, then only can issue refund directly to my bank account and will send release letter later on.

BUT i had to call twice asking them to update AKPK status instantly.

with that excel file,
i can know when to clear exactly
(1) 1 debts for CIMB
(2) 2 debts for HSBC
(3) 3 debts for UOB
(4) 3 debts for Hong Leong
(5) 1 debts for RHB

But my others debts need more that 10years
(1) Alliance Personal Loan
(2) AmBank Credit Card

This post has been edited by MakNok: Nov 15 2019, 11:02 AM

Hi,

Last Friday I received call from AKPK about their offer to help me manage my financial standing.
At first I wondered how they know my financial standing. Perhaps from BNM.

I have debt due to additional marriage cost (taken personal loan) and life after marriage (credit card). Quite struggling cos of staying in KL, paying alone all expenses including monthly pocket money to wife, study loan, car loan (taken few years before married), health insurances and other expenditure. All of that make me in debt zone.

I have like 3 credit cards at personal loan with total debt around 30k.

At monthly im struggling to pay any of them due to reason above.

Should I accept AKPK? One of most thing i concern about after future house loan that I want to take after my AKPK program ended.
I heard there will be blacklist but only during AKPK period. Will it be difficult to get loan after settle with AKPK?

THanks in advance.

i think that is not a genuine call from AKPK.
most probably some "scams" call

https://forum.lowyat.net/topic/4740366/all

Don't be conned by fake debt managers
https://www.akpk.org.my/my/node/564

This post has been edited by MUM: Nov 17 2019, 01:16 PM

They are akpk external agent
As long as u still manage to pay every month then don't go for akpk

Attached thumbnail(s)

Hi guys, my dad asking to be a guarantor for his loan. He has a shot loplt worth 800k, want to loan 500k from bank.
I want to know if incase business fail then can off set with the shop lot? Need to go through bankruptcy? It will affect my financial score or not?

This post has been edited by Pain4UrsinZ: Nov 17 2019, 06:28 PM

my agar agar guess is

in case the business failed....
the shoplot to offset?
will the shoplot worth the loan amount + the value of the accumulated years of interest + the lawyer fees + etc etc
note that a forced sell property will definitely of lower resale price + depends on the location and condition too

will it affect your financial score?
see 3
https://www.imoney.my/articles/8-most-commo...ow-credit-score

Hi everyone, I'm not sure whether this is the right place to post it but this is a debt issue but non akpk related.

So anyway, I'm trying to clear out my credit card debts. Last week, I received email from my bank saying that I'm enrolled into auto balance conversion which means they will turn my credit balance into 36 monthly installment at 13% ir.

As I have other commitment, I'm actually interested in following this programme which I think would help me reduce the burden. But I am not sure whether this is a good thing to do? Does anyone did this before? Any advices are appreciated.

If you still able to manage your commitment, i think it is not necassary to enroll into this program

AKPK didn't engage any external party to promote their service. What i hear from market is some external party act as AKPK agent then call customer and ask whether do they need any debt restruction service, and they will charge you certain % of service fee base on your total debt amount. They will ask you to pay using your credit card, and after you pay, they just bring you to AKPK office and let you do everything by your own. Means they charge you without doing anything ...

AKPK service is totally free, what you need to do just walk into any AKPK office, dont fall in any traps for this kind of so call AKPK agent.

I think your dad can use the shoplot to do refinance from bank, if your dad have stable income i believe it will be no issue from bank to borrow out the loan. If you be the guarantor eventually this loan will eat up your credit limit as this consider your liability as well. Definition of Guarantor is when the borrower unable to pay for loan, then bank will request payment from guarantor.


This auto balance conversion is for your to save on the interest ( normal interest i believe is 18% per annum). However if you foresee you can settle this within 36 month then better dont take the program. Else you may need to check with bank do they charge you any cancellation fee if you want to make early payment. Similar as Flexi payment plan, where bank will have 1-2% upfront charges if you opt for 6/12 months installation, and t&c will stated early settlement will imposed cancellation fee of RM xxx.

Thanks, my dad applying term loan, but need a guarantor bacause bank saying that my dad is too old 70 years old

I see, then is up to your decision whether do you want to take this risk. You need to consider do you have any plan to take up any loan in future, because this 500k will impact on your DSR (debt service ratio) unless your income is very high which can overcome on it.

Noted. Thank you!

Oh ya, regarding the question you ask about the blacklist & housing loan, once you enrolled to AKPK, in your CCRIS report it will have record showing the debt is under AKPK program, all your credit card will be terminated by bank and you also no longer can apply for any loan from bank.

However once you settle the debt and obtain the release letter from bank, CCRIS record will be gone within a month (CCRIS record update once a month). Yo ucan only start to apply for loan / credit card once you totally clear from AKPK program.

For my case, i have done my full settlement around Jun'19, then i started to apply housing loan during Aug/Sep'19, and bank is approving my application and issue credit card for me as well.