If i'm not mistaken, you must have net disposable income of at least RM50 for AKPK to help you in restructuring your payment for outstanding debts.

RM50 or RM50K?

Monthly net disposable income of RM50, example your monthly income is RM1,000, your monthly expenses should not be more than RM950.

Ah.. okok

Hi, i just finishesh this thread. Im 23 years old. Always wanted a cc bcoz i love shopping. Now have a stable job after graduated. Almost 6 months now.

But, after i read all the problems here, especially those who below 30, i think i dont want cc anymore until my salary reach at least 3k..

Just want to share with u guys, when i was in university, i shop a lot! I worked part time also, but do know where the money goes.. And sometimes i end up with debt at end of month. I have positive cashflow of about 1.8k (include my rent, food etc, but still its a huge amount for a student) including my part time job even i still study.

And i learned my lesson when im not able to pay my tuition fees and i cant sleep for about a month. So, when everything back to normal, i promised myself dont want to overspend.

Now, my life much more simpler. No branded stuff, dont go for shopping even on sales. No more fastfood everyday. But of course i have dreams to buy honda, vios, volkswagen, audi.. And to reach my goals, i work part time also. So basically i work 7 days a week. And i put all my saving my money into one account and wont touch the money unless emergency cases.

I also control my spending on food, i even list out how much i used a day, and keep the balance in my tabung.

So, i hope this will help. Oh and i also read somewhere, actually we need to save 6 months of our salary for emergency purpose.

This post has been edited by Mashi_maru: May 28 2014, 01:02 AM

Hi i wanted to settle AKPK and refinance my property. How long does it take you to get the housing loan approved after your name is clear from the system? i seriously want to know how soon can i get the loan approved by the bank after i have settled the AKPK.

I not sure on the refinance of housing loan, but first thing u have to do now is to get the money u owe to bank under akpk settle, ur name can b removed from their system after 2weeks. I just graduated from akpk program in Feb, I check the ccris report in march and it is all clear...then I started apply credit card in April and I got it in mid april...I will say,don't worry on how long u get the loan approve from the bank cox this is not under your control, what u have to do now it really get this akpk settle,pay off everything n get release letter....when your ccriss report is clear,then only u talk to the bank for housing loan or whatever,hope it can help

I heard some said that do not apply loan or credit card from the same bank that previously under AKPK program. Did you get the credit card from the same bank that previously under AKPK? I'm worried that the application not approved by the same bank.

It's because the chances are the Bank still keep record of you previously under AKPK hence increase the risk of you to be a person who might default his debt. This is like a risk management of the Bank. You can still try because nobody outside the Bank surely knows whether your previous record will be considered or not during your new application.

Your housing loan approved in the end?

Hi, you can get it approved as soon as your CCRIS record is cleared. All accounts under AKPK must be removed from the system. Just ensure you do not reapply the under the same bank.

Ive done many refinancing for my clients who were under AKPK. My general advise is to not approach any banks while you are sill under the AKPK program. Once you have fully settled your loans with the banks and get your name off the AKPK status on your CCRIS, you can start applying for a mortgage broker.

One wrong move (applying to too many banks at once) can result to all the banks knowing that you have been under AKPK and that would stay with them for however long they want unless we have a law to purge old data (we dont)

i understand enrolling AKPK means all outstanding loans incl cc will need to be incl into the AKPK plan. But if there's no outstanding on the cc then we no need incl into AKPK plan right? Cause AKPK only ask for bank info of those which has outstandings. Does that mean the cc is still active and usable? Or once we start the AKPK plan all bank will get a notice n automatically all cc will be suspended?

prevention is always better than cure. so for those who are looking for ways to manage your money, you can try this site http://www.mymoneymanaged.com . it's free, simple & will help you manage your money well

Thanks for your advice.
Your client apply the refinancing loan right after seeing ccris report clear? Or better to wait some time? If I apply 2 to 3 banks at a time consider a lot? I'm just worry I could not get the refinance loan approve after settle Akpk even though Ccris clear. Really need advice

You can get it approved when your CCRIS is cleared. Just dont reapply at the same bank previously under AKPK acccount.

Got it. Thanks

No. I got the credit card from other bank which I not deal with them under the akpk program, I got many info in this forum saying better don't apply the previous bank which we owe them money and at the end go thru akpk. So, I think u can try to apply from other bank, chances is higher..I'm the successful example,the bank offer me platinum card from UOB (overseas bank).

Yes, you can start applying for loans once your CCRIS report is cleared of any AKPK related loans. However, all the banks that you are applied to while you still have the AKPK (including the bank for the loan with the AKPK status) will remember that you have had an AKPK.

That's why I said not to reapply for too many banks because by going for just one bank you would know how/why/what is happening with you records.

Wait, have you checked your CTOS? Those banks that rejected you may also have checked for your CTOS that have just been cleared. Those CTOS records dont go away unfortunately even after you have settled the debt. But different banks have different ways of ignoring CTOS. For example, for this one foreign bank, you can settle the CTOS and show proof of payment and letter of settlement and the bank will ignore the CTOS record.... but that is only for CTOS with vendors other than banks.

If you have CTOS with a bank, you need to wait 2 years from the date of settlement before this foreign bank would ignore that CTOS records.

Don't play play with your credit ratings!

The bank check your ctos . It show u under akpk program.