May I know from the date you submit your application, how long does it take before AKPK approved your application?

I submitted my application on September 10, 2013 and I have been calling AKPK's office every week but until today (28/10/2013) I still have no news from APKP.

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

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.

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.

I'm currently under AKPK and still have many years to service my debt.

However, due to work related matters, I needed a car to move around. I wanted to buy a second-hand car & I need a loan of RM30k to finance it. I approach a couple of banks, all were rejected. The last and final bank I went to, check the CCRIS and obviously my name was in it.

I explained and showed to the bank that after servicing the AKPK monthly installments, I can still manage the car installments. The bank reviewed my case, was very helpful & based on the fact that I have worked in my current company for the past 20 years & my salary will be stable, the bank approved my car loan of RM30k to be service for 7 years instead of five years.

I am very grateful for the very kind bank officer who took the time to review my case and did not chuck my file into the tong sampah like the rest of the bank I went to before them.

Public Bank.

I have encountered this problem before and what I did was to email my AKPK counselor to inform him immediately and told him the expected date that I will be able to bank-in the monthly payment.

Yes, my delay was two to three days later after 30th & I submit my bank statements to verify that my salary was indeed credited into my account late by my employer.

However, my AKPK counselor also cautioned me that I should not make it a habit to delay payment as AKPK has the right to cancel our agreement. He advised that we should ensure that there is sufficient funds to payment AKPK on time every time.

My counselor did not say, but I understand that if consecutively missed three payments then you are out of AKPK's program.

I have learned my lessons. From now on, I will only shop when I have the cash. If I don't have enough cash, I will save until I have it before buying it. For big amount, I use bank drafts.

No credit card, no impulse to buy on credit. Habits died hard, its better to be safe than sorry.

Dear MyNet,

My advice was of good intention. In no way was I suggesting Ah Loong. I was just sharing it is better not to own or buy anything if we do not have the money or when we cannot afford it, excluding daily necessity.

I was a victim of credit card debt due to my lack of self-discipline. I used the credit card thinking I can repay the money at the end of the month when I get my salary. Initially it was okay, but as the desires to buy more stuffs during sales and to travel the; amount owed to the credit cards gets bigger and bigger and harder to manage.

In time, the amount owning overwhelmed me and I find myself in trouble when I cant even pay the minimum amount or any amount at all. Legal letters, court orders & the incessant calls from debt collectors haunt me day and night. I lived in fear every day for months until finally AKPK sorted out my problems.

I am still in the AKPK program and after the monthly deductions to AKPK, I have only a very small amount to survive on. But living frugally I managed from month to month.

That is why I said, don't use a credit card if you can. It is not our money, YET. Use cash when ever possible, if you don't have the cash the likely hood of over-spending is ZERO.

And of course, DON'T BORROW - from anyone or Ah Loong. Have a good day.