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 AKPK, debt issue, anyone got a question to ask them?

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bloggerblue
post Jan 12 2010, 10:48 AM

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QUOTE(call4help @ Jan 12 2010, 08:25 AM)
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?
No, once you are under AKPK programme, all your credit card facility will be terminated.

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?
It will be based on Bank D, Bank E will cancel the loan.

Thanks.
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bloggerblue
post Jan 12 2010, 05:07 PM

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By the way,

If you all wanted to know how much total monthly payment for 10 years under APKP.

This is the formula.

total debt x 0.013 = monthly payment ( however will still subject to bank to accept or review )



 

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