When I paid my first installment, I click the option"DMP Monthly Installment" and not the Pre-Payment. Your
friend can try and see if it works

Thanks for the reply.

He mention that the reference # is DMP113******, but then, Maybank2u only allows the numeric.
So a question arise, is it correct that we just need to enter the number 113****** ?
Or is the case that AKPK will provide another # for remittance purposes?

I was being told reference number is the NICEST number. Ask you friend to retry

Ops, it's NRIC number

Apparently the DMP***** is the reference number to key in.
Reason that initially it got rejected was because the number was not yet activated by the AKPK for use to transfer money via M2U

Bros i have a question. If i have 2 CC which the minimum payment are due on the 5th Jan 2014 and 23rd Jan 2014 for about RM800+. I can't manage to even pay for the minimum as my new job start only on the 1st of January 2014. So is it ok if i don't pay the minimum payment for both CC and do it only on February of 2014 when i got my first pay from the new job?

What would the late charges be like and i previously have paid all my CC minimum payment on time and was never late before as the coming month i am unable to pay due to family urgent matters and my salary would only come during end of January.

CC 1 - 9k outstanding 10k CL
CC 2 - 3.6 outstanding 4k CL

I will apply the AKPK soon, however there's a question in my mind.
My friend told me that once applied with AKPK, if planning to travel overseas you're not allowed unless approval letter from company is provided. It's truth?

Because my job required me to travel frequently and I'm not afford to let my company know. Can anyone able to clarify this for me?

I think your insurance is expensive. If you have CC debt, it should be your first priority to clear it off.

My suggestion is to cancel your insurance for a while, or opted for different cheaper insurance. Last I heard Alliance offering below 100 for personal, but im not sure about the details.

Clear your CC debt first, be prompt with monthly payment. About the BT, maybe not now, but the time will come when you have free time to do it in future. On that day, make sure you pick the best BT, and from time to time make sure you know the best deals.

For Maybank Visa/Master it's 1% of the late outstanding balance or a minimum of RM10 to a maximum of RM75 whichever is higher.. not sure about other cards but it should be somewhat similar.

I think it's better if you call your bank and explain the situation. Not like they will waive the late payment charges or anything, but you can just try your luck.. and don't be surprised if someone else from the bank calls you asking about the missed minimum payment even after you have informed them beforehand.
Btw you should have posted this in
https://forum.lowyat.net/topic/2997826

are heavily debt!!!! akpk can help?
now working.... salary in low income?

This post has been edited by yenboy: Feb 12 2014, 04:47 PM

Debt is 500K? Oh gee...I think the repayment will be at least RM6,500 per month for 10 years based on AKPK standard calculation. If your salary can sustained this amount and your basic expenditure, then go have a meeting with AKPK. Otherwise you might want to consider filling for bankruptcy as an alternative option. Just my opinion only, no offense.

This post has been edited by yenboy: Feb 12 2014, 05:04 PM

I really do not know. You will have to discuss this with your lawyer, he will be in a position to advise you on what are the implications on your life when you file for bankruptcy. On top of that, there is also the stigma attached and some people I guess can go into depression. Bankruptcy as the very last resort, so think carefully. Good luck.

Suggest you make an appointment with AKPK first..

That no problem to travel overseas even under AKPK DMP.
What your friend told you is bankruptcy.
I been with AKPK DMP for few years, now come to the end and I travel in and out Malaysia without any problem.

Let say I have debts with 3 banks....should I enroll AKPK program for bank A and B only....so that in future it will be easy for me to apply facilities from Bank C after complete the program.

Does this mean it will be hard for me to get facility from the bank I enroll with AKPK in future or does it apply to any bank....means even after I complete the program will it be easier for me to get facility from other bank that I did not enroll with AKPK?

There is no need for approval letter from the company, in order for you to travel abroad.
Undergoing AKPK is not the same going through bankruptcy.

You company does not even need to know that you are undergoing AKPK.

You don't get to cherry-picked which banks you would want, as everything (i.e. CC, Personal Loans)
will be combined under AKPK.

There is an alternative, though. You may choose the lowest debt, and clear it off with the bank (assuming that you only have 1 outstanding credit facility with the bank), before you enroll in the programme.

However, do note that AKPK does not deal with Hire Purchases. You'd have to still continue paying the banks, and should need be, to arrange for longer tenure, lower interest charges, etc..etc.. In gist, you have to do it yourself.

To answer on whether you can facilities with the bank in the future, well, based form the responses I read, once you've successfully completed the DMP programme, you should not have any problems in getting the facilities.

But throughout your programme, you'd not be able to get credit facilities from the bank, as your record would show that you are in AKPK.

Question is, why'd would you need further loans, when you can't service the current loans you have?

I have a question here, I have cleared all my debts thru AKPK November 2013, am i able to apply personal loan again? I got rejected from CIMB recently, Need personal loan for my mom sickness. Need advise bro.

Get the released letter from AKPK department and clear your record at Bank Negara, only this way will speed up your process for clear record then only you apply loan.

For those who doubt whether only put certain CC account under the care of AKPK, my advice is put all and nego with AKPK agent and press the lower rate repayment as low as possible. Get some buffer time for you to get your financial get on track, while you feel if time to clear certain CC just call the bank and nego for good rate to pay one short. This conversation is base on experience, every individual shall plan theirs differently base on their affordability.

Now i have a question, anyone know any Ambank or OCBC banker that can process AKPK holder for Home loan? I'm looking for one, i lost their number a year back.

Thanks.