Guys, need advise. My debt is nt that huge amount bt i decided to stay away from debt. I decide to not to use cc anymore. My situation is.
- i have cc outstanding balance rm3k
- PL outstanding balance around rm2.5k (loan rm3k, 2 year, 24 pcnt interest per year, pay monthly rm250 ends jun 2010)
- Earn around rm2-2.2k.

How would AKPK calculate? I still blur2 about this. If i want to settle the debt within 6 months, i assume i needto pay monthly rm800? Bt hw about my PL interest? The total interest frm bnk is around 48 pcnt, cn they rduce the interest? If can i can save around 18pcnt of interest d, thats a lot.. Cn smone help me explaining?

To tell you the truth, your debt is small compared to a lot of others. I don't think AKPK would entertain also.
Your PL is RM250 per month which you can service.
Your card you can slowly pay down with your existing pay.
Not a big issue till you need to go to AKPK if you ask my opinion.

One reason being to be enlisted into AKPK is no laughing matter. Every bank would know that you are part of the program (shown in your CCRIS report) and no loan facility would be granted while you're attached to them.

.

This post has been edited by hikaripro: Aug 26 2020, 01:23 PM

Thx boon, yeah im glad my debt is not that high compared to other. But i just dont like debt. Something tht i totaly forgot when i fill up the loan app form. Another reason i wana settle em in 6 month is bcoz i wana buy car. So if those 2 things are cleared bfore buying car, the lesser the burden..

i think u should talk to akpk....they'll calculated for u how much u must pay per month. usually they will calculate below then your current min payment...u have net profit income...should be no problem.
b4 u go to akpk...make sure make an appointment 1st...call them

akpk step by step.

1) attend briefing
2) attend counselling session...make sure you prepare latest bank statements, latest 3 months slip, and credit report CCRIS (get it from bank negara)
3) make prepayment.
4) submit form. wait 4 a month (ape yg derang cakap)
5) peaceful mind.

item no 1 and 2 better make it on the same day because it take less than 2 hours to settle. make sure u prepare all docs..

Thank you mr nizam. I went to the briefing just now and my appt with counsellor is on Oct 10. Pls pray for my success!!! Will update here...

go Akpk is good...
IF you can accept the consequences....

Wow what you spend so much on? Buy properties? Shares? Unit trust?

what kindna consequences are we looking at?

you will not be able to apply any new credit facilities while enrolling in the DMP.
your current credit facilities (credit card) will be cancelled.

but it is good though because by this way we can prevent ourselves from accumulating more debts.
try to settle slowly..once you are in the good financial situation in future, u still can apply for any new credit facilities after
you finish your programme with AKPK.

by the way, you are not required to enroll in the programme for a long time if you can have enough money to make full settlement while
you are in the programme.

let say you enroll in the programme for 10 years (which is the max tenure).
within 2 years you had sufficient money and plan to make full settlement.
what you need to do is go to the particular bank (your creditors) and make the full settlement.
get a release letter from the bank as a proof you make the full settlement and then forward the letter to AKPK.
your programme will be stop and then after your name cleared, you still able to apply a new credit facilities.
but make sure after graduate from the programme you manage your financial properly.
learn from your previous mistake.

Hi would like to get some advice from you guys here, kinda bit in a mess now.

Credit cards:
Citibank RM7k
Ambank Rm4k

Personal loan
RM12K

Hire Purchase
RM1600

Recently been lay off from work, but happy thing is gonna start work in December but problem getting a car cause blacklisted. Anywhere, my problem here will AKPk help me?

Thank you for your time

sigh... so a lot of young people stuck with cc debit.. me also.. PL + CC around 70k.. can't remember how i spend them....sigh.

how young are you?

Basic question

What is AKPK ? What is it for ?

Refer the previous reply and you will find the web site. Access and read.

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Added on December 13, 2009, 12:10 pmI wonder would someone who is knowledgeable in AKPK matters can compile a FAQ base on the questions asked here or that they faced frequently. This would be a big help to those in need.

This post has been edited by bekman: Dec 13 2009, 12:10 PM

Thank you AKPK...my Loan + cc debt is under control...fuhh..lega...no more dept collector

hi... thank you for your suggestions... as for the FAQ, you can visit our website @ www.akpk.org.my to get more info on how we help those who are in need...

on top of that, we are going to launch a social site so everyone can mingle around ,play with it and get support from AKPK to help you...

I will update here for everyone... and i will also try my best to assist everyone with their enquiries...

cheers!

Hi,

I have a few questions which I do not find them in the previous posts:

1. Say if I have Credit Cards with Bank A, B & C. I have outstanding balance with Bank A & B. Bank C is clean. If I join the AKPK program, can I surrender CC with Bank A & B, and keep the Bank C?

2. If I have Home Loan with Bank D and apply refinancing with Bank E. Bank E has approved my Home Loan but has not release the loan yet as paper works usually take a few months. So I am still paying installment for Bank D. If I join the AKPK program now, will Bank E cancel the Home Loan which they approved earlier?

Thanks.

1. No, your card would be canceled.
2. Am not sure.

Anyway, AKPK wouldn't just simply "enroll" everyone. They would ask for your pay slips and all and even ask you to list down your expenses. Than they would help you to calculate your financial burden and help come up with a payment options see whether or not you can afford it.