Advice on AKPK Debt Program

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asked on Apr 28, 2009 at 21:00
edited on Sep 27, 2016 at 04:25
I am currently working in Singapore but having some debt problems back in Malaysia.

I would like to ask if I can just submit the Debt Management Program (DMP) application online without a counseling session?

I have tried to propose repayment plans to my ability to the credit collection companies but they would not accept. In this case, should I just go straight to Agensi Kaunseling & Pengurusan Kredit (AKPK)?
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7 Answers

answered on Apr 28, 2009 at 21:08
edited Sep 27, 2016 at 04:27
Hi Gintoniq,

You're only at Singapore.. not the end of the world. Drop a visit to AKPK JOHOR BHARU (JB) as address below:-

Bangunan Bank Negara Malaysia
Jalan Bukit Timbalan
80720 Johor Bharu

Tel : 607 221 0533
Fax : 607 221 0535

Call them before you go blindly!
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answered on Apr 29, 2009 at 05:42
edited Sep 27, 2016 at 04:31
You must attend a "Talimat" session first, then they will give you a appointment form (too many people, luckily I said I came from very far place, so I can attend the Debt Management Program (DMP) session without appointment)

AKPK Johor Bahru (behind HSBC Building, near Kota Raya) Timetable:

Tuesday : 11am ~ 12pm
        : 3pm ~ 4 pm
Thursday : 3pm ~ 4 pm

Mandatory documents to be submitted:
1. IC/My Card (both side) 2 copy
2. Salary slip for he last 3 month or latest saving/current account/statutory declaration ("surat sumpah", I use this because I don't have fix income)
3. Latest loan statements for credit card/personal loan (most difficult part is to request latest PL statement from bank, have to ask the AKPK officer issue a [Confirmation of Outstanding Balance] letter and submit it to the bank, and then the bank will ask you to wait for 5~7 days)
4. If you are working at Singapore, please provide your work permit / PR / IR 8A Form

You need to prepared below information too:
Home Rental/ Public Transport/ Maintenance & other vehicle related expenses (exp. petrol)/ Telephone/ Electricity/ Water/ Groceries/ Food/ Health Care/ Education/ Child Card/ Insurance Premium etc
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answered on May 7, 2009 at 18:15
edited Sep 27, 2016 at 04:33
I had finally made a trip to AKPK JOHOR BHARU (JB). Attended the "taklimat" which was very useful, and was given a form for the DMP application. However, I am still having trouble with my housing loan which I have written to the bank regarding my proposal for repayment plan (and as usual bank will reject and demand a ridiculous installment amount, knowing that we could not ever make it but still demand it, I wonder if there's any sense to it. If bank goes into near bankruptcy, they have government to bail them out. But who to bail the consumers?). Anyway, I have tried to sell my property for many months but no results.. if anyone has any "lubang" to sell off property quickly, please give some tips.

AKPK cannot negotiate with banks on housing loans, unfortunately... Only for after auction remaining debts restructuring.
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answered on May 7, 2009 at 20:05
edited Sep 27, 2016 at 04:35
Hi Gintoniq,

You can seek the help from your close relative or friends, provided they are willing to help you.  You can sell your house at higher value. Therefore, they can help you to take higher loan to cover your existing mortgage loan. Prolong your loan to 30 years with lower instalment (but higher interest of course). The balance of the loan, you can use to pay for your monthly instalment for at least 12 months.  You can offer them to pay them commission if they are willing to help you transfer out the property so that it will not put out for auction.

Say your loan is RM150,000 and you sell to them at RM180,000.  The extra RM30,000 you can use to pay off your lawyer fees, commission or future usage ie. instalment.  The CON side of this is that you will have to spend on the lawyer fees (same case like refinance).

Wish you luck too.
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answered on May 8, 2009 at 13:31
Hi AKPKian,

If I do not have the latest statement but the legal demand letter showing the outstanding balance and account number, can we use that document?
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answered on Sep 8, 2016 at 09:25
edited Sep 27, 2016 at 04:36

I'm currently not working. Recently I got to know my name is under blacklist. But I'm willing to pay my debts once I got a job but can travel to overseas?
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answered on Sep 8, 2016 at 21:56
edited Sep 27, 2016 at 04:37
Blacklist can still go overseas but...
bankrupt cannot without the permission from Jabatan Insolvensi Malaysia (JIM)!
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