AKPK, debt issue, anyone got a question to ask them?
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 Nov 9 2011, 11:04 PM
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#1
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Junior Member
375 posts Joined: Oct 2008  
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tiger, ur case does look serious. what akpk does is to nego v da various FIs on ur outstanding balance n reduce it to smaller amount so tat u cud repay ur monthly instalment for a looooong period. u now owe more than $200k n i donno how akpk cud help to reduce da monthly repayment to say $50 per FI. well u can always try talking to them n i believe they will try their best to help.
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Nov 11 2011, 09:32 AM
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#2
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Junior Member
375 posts Joined: Oct 2008
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QUOTE(Tigerr @ Nov 10 2011, 01:24 PM) Haha....it is not me lar...the problem is with Dunhill lar... ops sorry la tigerr, was reading the wrong post But seriously speaking, akpk in this case will not be able to help and they will reject the case as the applicants income is not enough to do the minimal repayment to all the financial institution plus the more urgent one is to clear the ah long's debt. Else, forever he indebted to the ah long and may be need to borrow more to pay off this one....   well yea looking at his situation it definitely doesn't look good but no harm trying as i don't see any other way he could get it resolved (apart from borrowing money from family or friends). |
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Nov 18 2011, 05:12 PM
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#3
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Junior Member
375 posts Joined: Oct 2008
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QUOTE(megat_johan @ Nov 18 2011, 10:42 AM) hi guys, don't approach akpk until it's the last resort. once you're in the program there are many things that will be affected especially your credit rating and subsequently difficulty to apply for loan WHEN YOU REALLY NEED IT. can try to restructure your debt with the respective FI into term loan or something that is lower in interest. after that cancel/cut off all your CC and be discipline in repaying your debt.i have income around 3K and my CC debt is 15K. Shud i proceed with Debt Management Program with AKPK? I am going to attend POWER seminar on December. I wonder if they provide free counseling on that day. Expert. Any idea? |
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Nov 21 2011, 05:31 PM
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#4
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Junior Member
375 posts Joined: Oct 2008
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trust us. it's good that you've already cut all your CC and repaying RM700 a month to settle your debt is manageable. i've been through the DMP myself few years back and if given a chance i would not do it. now that i've settled all my debt and is back to healthy level again!
 just be discipline, not much choice you have but to sacrifice all the good things for temporary until you're debt-free. This post has been edited by venven81: Nov 21 2011, 05:31 PM |
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Aug 11 2012, 02:22 AM
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#5
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Junior Member
375 posts Joined: Oct 2008
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QUOTE(mnj04 @ Aug 3 2012, 10:27 AM) Hi, Once you enroll into DMP, all your credit cards will be terminated. You are no longer able to get any sort of borrowing from any bank until you fully settle your debts.Can anyone please clarify, I want to make full settlement for my credit card. Been under akpk for about 1year++.After making full settlement, do i need to cancel my card or it was canceled since joining akpk? Been wondering as in online banking my card is still there.. |
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Aug 13 2012, 11:35 AM
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#6
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Junior Member
375 posts Joined: Oct 2008
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QUOTE(samsungXP @ Aug 12 2012, 10:39 PM) my DMP ord approved 2 weeks ago but why my cc statement they still charge me late charge,annual card charge? for this you need to take initiative to contact the credit card issuer and let them know of the charges. inform them that you're under AKPK program and then they will waive it in your next statement. you have to do this every month!!! kinda screwed up system they have huh?  |
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Aug 14 2012, 12:02 PM
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#7
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Junior Member
375 posts Joined: Oct 2008
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QUOTE(samsungXP @ Aug 13 2012, 11:55 AM) they should know we r under akpk.why we still need to inform them that's why i    |
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