hi everybody, actually just came across AKPK recently. 1 big question, after joinning AKPK programme, will i be able to apply for personal/business current account? wanna try my luck working for myself.... after being cow for so many years...

thanks

If you enrolled with AKPK; trying to borrow from the bank would be a problem, i.e. no bank is going to lend you.
But opening of an account with no OD facilities would be fine. So you can open an account but without OD line.

Can i say that when you ask for AKPK help you will be semi bankrupt?

the only difference with real bankruptcy is that you get to keep using your bank account.

when you talk about CC restructuring is that they will cancel all the cc you have when akpk agree to help?

thanks.

You guys are GREAT, sharing all these info!  Salute to the unselfish sharing.

Anyway b4 going for AKPK, one of the other moves can consider is Balance Transfer (usually they offer low interest rate for short period), that means u take some new credit cards with no annual fee, do one small transaction (perhaps buy petrol), pay that one up, then apply to transfer your other balances at 1.5% per month to new card at say 0.5% per month for the first 6 months.  Per RM1000 of balance, savings per month is 1% or RM10.  If you owe RM10k, you save RM100 per month in interest!

Of course, please don't increase the new card balance by spending again.   Easier said than done

Yes. I got a question. As previously i been post regarding would like to help my brother settle off his AKPK.

He started enrolled into AKPK program January 2008. Total of his debts is RM52k. And being proposed to pay Rm1k per month. From January 2008 till now, its been paid 16months. Current moment i got cash on hand around RM28k, do you think that i can settle off the outstanding with the RM28k??

Hi there, thanx in advance......
i got few questions....

1) my cc & PPL is about 100K+
2) i need to pay housing loan (500.00)& car loan (1700.00)
3) i 'm struggling paying the min every month (5000.00)

but i'm a self-employed personnel.....

so..if i taking up AKPK :

a) will it affected my status as director/owner in the company? ( 2 directors)
b) will they also include the housing loan & car loan as well?
c) if not, will they force us to "let go" the car or house?
d) because of self-employed, i'm actually drawing min salary only -4500.00 (to reduce in tax), so when they calculated the salary will they also count in my company profit of the period (but i'm not drawing fix allowances) or just the basic salary?
e) if i got to cancel all the CC, can I be the supplementary card holder under my wife (as in biz we need the conveniency of CC in traveling)
f) how they calculate the expenses? eg, water & electricity bills, telephone & multimedia bill, H/P bill, housing maintenance fee, kids nursery/tuition fees? oohhh...and also daily makan..? petrol?
g) so far besides AKPK, any bank will help to offer a loan to consolidate all CC debt under it then fix as term loan under certain rate(maybe 12% pa for 5 years) to allow u to ease the min payment.

100k @ 5% min = 5000.00
100k + 12%(5 years) = 160k ; divided by 60 months = 2666.66
actually bank still earning but at least our debt is under control...
why none of the bank willing to offer it? Standard Chartered actually got this plan but so far i heard no body with amount more than 50K got it.

So far i never have any overdue amount in CC nor any loan....just feel very tired /struggling....

so need to find solution before it getting worst...

please advise.

lil twist,

1) Why some application is thrown away from the original branch? like consulting in KL but settlement done by ipoh.
2) During the consultation, they say no interset will be charge. Example, Loan outstanding RM20,000, pay RM500 through AKPK, the balance is RM19,500. Bank is other wise, as your balance would be RM19,980 only. Confirm this..
3) Once got the offer letter from AKPK, they say subject to bank interest and bank charges that not stated how much. Not fair to blindly sign without knowing the details.
4) How to get the agreed rates and charges?
5) Can we negotiate further to reduce.
6) Can we reject the offer?

Afraid it will create back to square one (but without phone call) and more interest as they structure may less interest but longer term which still create no benefit to participants.

TQ. You may PM too.

heard from a buddy that one of the officer at AKPK apply for credit card but rejected coz too risky. So funny that these ppl are supposely expert but also got financial diff

bro,

Pls check my PM..thanks 

sorry, just want to ask, if now i under debt management program, can i go to open account for buy share?

U should chat wif the bank first, some banks allow things like restructuring. They convert u cc outstanding into lower fixed repayment like loans but they still charge u normal cc charges i thing. But then ur cc will be put on hold as u cant use ur cc any more.

Thats juz my opinion.

Hi....i will like to ask....once a person is in a AKPK program, can that person apply for a refinance home loan???
Thank You

afaik, akpk do not tell the bank whether to approve your loan or not although its shown in your record tht ure under dmp. end of the day, its still depending on the bank whether to approve ur loan or not...

thts wht the akpk officer told me.

hi,

CC debt around 12K
personal loan around 10K

should i go for:
1. balance transfer
2. akpk
3. EPP
4. house loan refinance

?? kinda confuse now.. sigh..

I plan to enroll now since i got no choice.

Btw, i think my total CC and Personal Loan would reach 28k if combine all. Assuming i will apply for this and income as below:
Nett income: RM 2250
1. Pay hire purchase 420
2. Pay Family RM 1200 for my parents
3. Pay 350 for my rental
3. After deduct i left rm 250. I am really not sure how would the AKPK help since they r unable to combine my hp with my cc and pl.

Really confused now. Can i request for only Rm 100 payment per month for the first 2 year. If yes how big is my chance. I need to have some saving before its too late.

How long will i would know my application result. Will this take long time to confirm?

Thanks!!!!

guys, i got a serious situation now. i got debts with 5 licenced money lender.
4 i loaned RM1.5k each, 1 more is RM5k. so because of trusted friends. i even lose my good job salary RM2.5k per month. now im jobless, how am i supposed to settle this problem. im really regret for my mistake!!!!
by the way, im still got car hired purchase debt with public bank around RM20k
is there any solution for me?! guys please help me out?!

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

---

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.

I did not have a stable job for the past few years. Only lately found a stable job and all situations come back to normal meaning there are less worry of financials.

I have stop paying 4 of my credit cards for the past 5 years and i think total of the cards past 5 years was around 50k (for all) I did not receive any bankcruptcy letter from the bank yet, however since I am much more stable now, thought of going to see AKPK to help.

But what will my minimum payment for my debts? As I am quite new on the job therefore does not allow me to take off and see AKPK. Please help what shall I do. I know for definetely I am on CTOS or CCRIS but bankcruptcy dunno.

Lost of direction already. Please help.

if i joined akpk, can i apply for house loan. i joined akpk to pay my cc and to save some money.

Who says AKPK doesn't deal with Housing Loan?
AKPK would also take Housing Loan into account. So in the event housing loan monthly repayment is found to be a burden; they would also help in getting restructuring from the respective banks.

hi friends..

i m Alex hre. now i have financial problem to paid my minumum payment for my credit card and personal loan.
my total debt for personal loan and credit card = 250k

my net wages was RM5k, i use this to pay my wife old debt as she is not working and also my family expenses.

i going to seek AKPK this week for seminar talk. just wander AKPK will consider my expenses on my wife side or not since i use most of my income to pay off her debt???

please advise since you are working in AKPK b4 i proceed.

many thanks

hi..thanks for your reply
when you said joint accounts..do my wife need to to AKPK?
i thought i one to kept my wife name clean so that in future when v really need to do some borrowing , at least her name still clean and can borrow...?hi..any
hi..any reply for my question here?????????/

hi all members:

Now i have financial problem to paid my minumum payment for my credit card and personal loan.
Total personal loan+ credit card around RM100k.
My salary RM3K.
My expense one month around RM2.3k.

If apply AKPK how to calculate to monthly install?

I call to Bank Negara of my state's branch, they ask me to go Bank Negara counter there to ask anything, but I went to bank negara last week, the staff ask me to register online 1st, no chances for me to ask other questions..

1. Those cc debts need to call each bank to confirm the latest outstanding amount right? what if I success into AKPK, do I still need to bring hardcopy of each bank CC outstanding statement to attend the course or appointment?

2.CCRIS hardcopy can get it printed at bank negara at the same day of AKPK appointment or not? need to wait few days to get the hardcopy or just by machines?

3.Expenses just need to fill in a roughly figure for each item without any exact amount billing attachment right?

3.Any other documents needed for AKPK?

4.Will AKPK affect the worker who work at SG? Lets say permit or PR.

Hi,

Can I ask how big is the difference between original monthly payment and after reschedule? And do you need to provide any kind of document? Appreciate if you could share your experience with us here.

hi i first time using this
how to join apkp program i m interested
tysm

hope you did not realised that you are asking a 12+ yrs old posting
while waiting for his response,....
hope you can try check this out for some info while you wait for responses....

How to enroll into DMP?
https://www.akpk.org.my/akpk_faq/?lang=en&l...enroll_into_dmp

btw,...do beware of 3rd parties telling you that they can help you secure agreement with AKPK....
for they maybe scams...

many stories about that in ,....
https://www.google.com/search?q=akpk+scams&...sclient=gws-wiz