Advertisement

Who has experience with AKPK? Need advice..

4729 Views  ⚫  Asked 6 Years Ago
asked on Oct 24, 2011 at 00:53
by   ladyindebt
edited on Oct 15, 2016 at 06:16
 
If you are currently under Agensi Kaunseling & Pengurusan Kredit Debt Management Program (AKPK DPM), I'd like to ask advice from you. I've defaulted my credit card payment ranging from RM3,500 to RM10,000 of credit limit, and 2 personal loans worth RM10,000 each. Think there's around RM60,000-RM80,000 worth of debt, I'm not sure because it's been so long since I receive or even bother to find out my current outstanding with the banks. Now that I finally have a better paying job and slowly getting my life back on track, I'd like to seek help from AKPK.

My questions are:-

1. One of the requirement before you get help from AKPK is that you'll need to have 3 months of credit statement of each bank that I owed. Is there a way I can get my latest statement without going through the banks? I don't think I want collection agencies start haunting me again..

2. I wonder how would AKPK proposed a suitable monthly instalment... Do share with me what's your actual debt amount, and the reduced debt amount after going through AKPK, and what 's your instalment like..

I can't wait to fix the damage I've done in the past and live my life to the fullest again... It was one hell of a lesson learned and thank God that I've been given a chance to improve my life again..
0 had this question
Me Too
0 favorites
Favorite
[ share ]
31 Answers
 1   2   3   4   Next »  Last »

answered on Oct 24, 2011 at 03:57
by   1818
Hi ladyindebt,

I am unable to comment on your earlier points, however, regarding...

2. I wonder how would AKPK proposed a suitable monthly instalment... Do share with me what's your actual debt amount, and the reduced debt amount after going through AKPK, and what 's your instalment like.. If AKPK accepts you, they will get the bank/s to half the 18% p.a. c.c. interest and convert your c.c. debt to a 10-year term loan. This is a good thing - unless you can't afford the monthly payments before the 10 years are up, then the banks may likely sue and bankrupt you if your debt is more than RM30k, per bank. Why not make an appointment with AKPK to find out more directly from the horse's mouth? You have nothing to lose besides your time and bus fare.

I can't wait to fix the damage I've done in the past and live my life to the fullest again... It was one hell of a lesson learned and thank God that I've been given a chance to improve my life again.. I almost envy your present new fortune. Good luck!
0 found this helpful
Helpful

answered on Oct 24, 2011 at 16:48
by   Favy
edited Oct 16, 2016 at 05:04
 
@ladyindebt

1. When I joined Debt Management Program (DMP), I also defaulted few years with the banks (7) and what I did was that I wrote directly to the bank, stating that I intended to enroll Agensi Kaunseling & Pengurusan Kredit (AKPK) and requested for update status of my outstanding.  Some of the banks didn't reply but when I completed my consultation with the AKPK officer, I asked them a standard format for requesting for outstanding status, and person-in charge of AKPK program in each bank that I owe.  After that, it was so easy to collect as they will fax you the figures! During that period, still, those debt agencies called me, especially for Affin, UOB and AmBank but I keep my script the same 'I'm enrolling AKPK and waiting for approval and I already paid deposit'... one more thing, when AKPK received your DMP application form, asked for slip receipt and if any debt agencies call you, just fax them the slip to call the AKPK person-in charge/your officer! They will stop bothering you.

2. AKPK will ask you to fill-in a form of all your monthly expenses with your nett pay... they will calculate and propose the figure for each amount/bank... if you agree, then they will propose to the banks on your behalf. Normally the banks will accept... don't worry about it. Just tell them if you have to set aside for parents medical bills, insurances, etc... and see how it goes.

Hope it will help a bit. Good luck!
0 found this helpful
Helpful

answered on Oct 26, 2011 at 22:59
by   ladyindebt
edited Oct 16, 2016 at 05:06
 
Thanks, 1818 & Favy... for your invaluable advice & word of encouragement.  1818, well... it's been close to 7 years that I've been enduring the pain deep financial problem... don't give up hope, your turn will come

Think I'll go for the AKPK briefing next Monday since I'll be on leave then... How long do I have to wait before I get to meet the officer?

My current personal mobile no now is registered under my husband's name, so I no longer being harassed by debt collector. But somehow I'm puzzled as to how the managed to locate my current employer - via Lembaga Hasil Dalam Negeri (LHDN)? Employees Provident Fund (EPF)? Luckily enough, the job agency that I'm currently attached to did not to reveal my number to these brutal, unethical debt collector. Still a little worried if somehow or rather they'll manage to track me down in my new company...
0 found this helpful
Helpful

answered on Oct 27, 2011 at 01:02
by   1818
Hi ladyindebt,

I guess how long the wait depends on which branch you go to and how busy they are on that day. For me, the officer saw me within 10 minutes or so, I was the only one there, by the way, I walked in without an appointment. JB branch.

Do keep us up to date after AKPK appointment.

To neutralise the debt collector's threat to expose your debt situation to your boss and co-workers, consider exposing it yourself before they do?
0 found this helpful
Helpful

answered on Oct 27, 2011 at 16:56
by   ladyindebt
edited Oct 16, 2016 at 05:07
 
Well, yeah.. think I have no choice but to tell my boss about my situation... new company credit salary into RHB where I've defaulted 10k worth of credit card debt... I was thinking:-

1. Call up RHB, discuss & get agreement on monthly repayment and continue to get my salary credited into RHB bank (which I've yet to open up one)... OR?

2. Eliminate all risk of getting my salary being frozen by just informing my HR to credit into my Maybank instead?

What do you guys think?

By the way 1818, are you currently servicing AKPK?
0 found this helpful
Helpful

answered on Oct 28, 2011 at 00:10
by   1818
edited Oct 16, 2016 at 05:12
 
1. Call up RHB, discuss & get agreement on monthly repayment and continue to get my salary credited into RHB bank (which I've yet to open up one)... OR?  I wouldn't do that if I were you - more often than not - big organisations are INefficient, meaning, they usually don't know what their left and right hands are doing, thus, your pay might still get frozen even if they have agreed to your repayment proposal. Also, what if they take more than a few weeks to get back to you, are you going to ask your company to hold your paycheque first?

2. Eliminate all risk of getting my salary being frozen by just informing my HR to credit into my Maybank instead? This idea sounds much better - if you are sure Maybank won't freeze your pay.

By the way 1818, are you currently servicing AKPK? I don't qualify/can't afford to be in AKPK's program, based on their formula (and the massive amount of credit card debt I have), I'd have to pay AKPK RM9K+ each month for the next 10 years!

I hope you get accepted and more importantly, you can afford the monthly payments for the next 10 years, yeah, that's 120 consecutive months, baby!
0 found this helpful
Helpful

answered on Oct 28, 2011 at 03:39
by   ladyindebt
I don't have problem with Maybank anymore eversince I've paid off my credit card debt (yeayy!).. So I could gladly say, all is good with Maybank as far as salary is concern. Surprisingly, my CIMB account is still active and was never frozen despite of owing them some 10k++ of my hire purchase, also defaulted for years now...

Oh well... Will try to attend a briefing session in AKPK this coming Monday. I'll keep you guys posted later...  Thanks again, 1818
0 found this helpful
Helpful

answered on Oct 28, 2011 at 21:39
by   michael
Lucky for you to choose AKPK as your final solution. Welcome on board..

The briefing (which you'll attend this Monday) only take 30 - 40 minutes. On video briefing. Then you'll have Q & A with the officer in-charge.

If you're interested to take DMP program please register your name and choose available counselling date.
- You'll be given a form and a photocopy of AKPK's letter consent to get your latest statements. Please take note that AKPK only can help you once you get all the details. The complete documents are:

1. Your Identification Card / Passport.
2. CCRIS report - you can get this from Bank Negara - if you're in K.L then just go to tower D, GF. You'll need yourself present as you need to verify your thumbs-print and Identification card. Then you CCRIS's report will be print out.
3. Photocopy the consent AKPK's letter. Let's say you must make a photocopy to each bank you've loan with them. In my case, I got 4 banks then I need 4 copies.
4. You must also have your latest 3 months salary NOT your 3 months billing statements..

AKPK will assist you on un-secured debts (C.C / Personal loans) for secured debts (house / cars) you'll need to re-schedule / selling your house / car if there is No other way to pay the debt. - Worse case scenario..

Please also note that banks will given the billing statements within 7 working days. So make sure you choose 7 / 8 days for your counselling date.

If you're with AMBANK (Credit cards)- better you go to Yap Kwan Seng
If you're with AMBANK (hire purchase)- better you go to Ambank Pudu
If you're with RHB - better you go to RHB K.L
If you're with CIMB - better you go to K.L (near SOGO)

Always ask for AKPK's officer at each bank. If not you'll be going in circle.

Better you go to the main / HQ bank rather for branches. You'll wasting your time. Remember also, billing statements is free of charge. Some of bank will try to pursue you NOT to enroll in AKPK. They will say something like you'll never get a new loan etc. etc. just ignore them.

And most importantly you're NOT a bankruptcy. DMP only apply for non-bankrupt person.
To check your status please key-in your identification ID at : http://sspi2.imi.gov.my/Default.aspx
- This is an Immigration check.. if you got  : Tiada halangan : that's mean you're not bankruptcy .

If you got to JIM - you'll need to pay RM10 for your status.

Also, you're welcome to join POWER! program @ AKPK - F.O.C each Saturday 9.30 a.m.

See you there!
0 found this helpful
Helpful

answered on Oct 29, 2011 at 09:30
by   ladyindebt
edited Oct 11, 2016 at 08:55
 
Thanks for the great advice, Michael! Really appreciate it... This would save me a lot of hassle & frustration

Well, here's my remark to what you've just shared with me:-

1. Some of banks will try to pursue you NOT to enroll in Agensi Kaunseling & Pengurusan Kredit (AKPK). They will say something like you'll never get a new loan etc. etc. just ignore them... Yeah, I've had many people telling me and some of them even working in the banking sector that once I'm blacklisted, I'll FOREVER be refrained from obtaining loan. I've seen people who has gone out of being "blacklisted" and were able to get credit again... I guess these people who said that are just plain idiots who obviously don't do their research before saying such stupid statement.

2. To check your status please key-in your identification ID at: http://sspi2.imi.gov.my/Default.aspx (Yes, I've checked and "TIADA HALANGAN")

Hmmm... I'm not sure how prepared I am to see how my credit card bill would have ballooned over the past years, especially with Diner's club where the interest rate is the highest compared to others.. I wonder how much would AKPK be able to negotiate the settlement amount though - do they just help to waive all interest or they would further discount below my principle amount?

Another question - So would banks request for my latest correspondent address if I walk into the bank asking for these statements? I seriously don't want to be harassed by those unscrupulous debt collection agencies again...
0 found this helpful
Helpful

answered on Nov 1, 2011 at 16:33
by   michael
Good for you...

You just hand-over the AKPK's consent letter only to the AKPK's related bank officer. They'll NOT asking much... even they will not bother to ask your contact number or address.. However, it's advisable to have "temporary" phone number in-case they need more than 7 days to come-out with the reports.

In my case, I requested their name and direct line or mobile number and avoid giving mine. I said that I'll contact them from time to time.. :D
0 found this helpful
Helpful


 1   2   3   4   Next »  Last »

Your Answer





By posting your answer, you agree to the privacy policy and terms of service.