AKPK should be your last resort.
Maybe you can try to discuss restructure loan with the bank? what loan issit?

Joining Once a lifetime AKPK program doesn't hinder you from going oversea lo.

can use Debit Card since all your credit card will be cancelled.

50k AKPK mean you need to allocate rm610 for 10 year repayment schedule.

Once you inside AKPK program.....

All your current loan/credit card will be null and void.

You need need to get a printout CCRIS of that loan...
and then see your appointed AKPK Consultant.

if your outstanding is 50k......it will be roughly rm610 monthly.
But then if you can loan that 50K......what is your current monthly repayment?

I am sure your current salary should have no problem paying your only debts...right?

Remember AKPK is ONCE in your lifetime max 10 year repayment program.
Surely you can cut down the commitment if you want, right?

AKPK take into consideration all your current debts like Personal loan and Credit card mainly.

Housing Loan and Car Loan at my time, cannot.

So,
your commitment is
Housing Loan
Car Loan
Insurance
Electricity and Water
Internet/Broadband

Above is definitely mandatory commitment.

Importantly, does your mandatory loan is the main cause of the problem?

Most of the time,
people use personal loan and credit card to "rock and roll" the mandatory commitment until max out.

My question,
Can your salary easily commit to those mandatory loan with excess money every month without fail?

Can the excess money use as emergency fund for hospital other expenses...celebration birthday..cny..hari raya..deepavali...etc and still have enough excess money?

bro,
once you under AKPK program.

all outstanding personal loan and all outstanding credit card will be consolidated.
You will have to survive using debit card/cash only.
Your emergency fund will be your epf account 2 for monthly housing withdrawal which will be credited into your bank account.

Since your house loan is 1k....
let say now your epf account 2 got 20k balance

You will be able to get 1k everymonth for 20 month
and apply again if account 2 still have enough fund after 20month.

You can discuss with AKPK on the amount to be pay, normally consultant will ask how much you afford to pay, they will design the plan for you, example : Bank A - 200, Bank B - 250, and so on and the instalment eventually will increase after 2/3 years as your income will be increase as well... but once you enrolled in already you must control your spending as well, due to your repayment has been reduce you might have extra cash, but better keep the extra cash with you for emergency purpose...all credit card will be cancelled and you no longer can apply any loan facility from bank

Guess AKPK could help for the remaining 2 loans, very soon you will free from all this.
For my case, my repayment was increase about 300 every 3 years, because in normal situation your salary will be increase over the year and by increasing the repayment it will helps to clear the debt faster..but if you have early settle some debts then your repayment will be reduce as well..

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.

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

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

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.

hi guys,

after making the 1st payment via maybank2u.

may i know where to check the status of payment in the AKPK customer portal ?