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How's AKPK calculate the repayment?

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asked on Oct 5, 2009 at 18:35
by   PONY
Hi all,

Does anyone in experience with AKPK? I got few questions below;
1) How AKPK calculate our repayment scheme in DMP?
2) Assume the debts is about 160k, how many will be the repayment per month?
3) Assume that I had personal loan which already pay for 2 years, mean another 3 years to go, but how am I sum it when filling DMP form? (DMP application had a column to fill CURRENT OWING AMOUNT, however, I will put the current outsatnding amount, but does AKPK will deduct the interest from that sum? If not, we will pay double interest when enrol in DMP as I know AKPK will add up the sum of owing then nego with bank, and bank will add up the interest on the DMP repayment)
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4 Answers

answered on Oct 6, 2009 at 05:42
by   PONY
ANYONE CAN HELP??THANKS
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answered on Oct 6, 2009 at 16:29
by   notapro
hi pony, answers to your questions:

Does anyone in experience with AKPK? I got few questions below;
1) How AKPK calculate our repayment scheme in DMP?
ANS: Basically for every 10,000 debt amount, minumum is RM50 or more per month repayment over a period of 10 years.
The debt amount can be reduced when AKPK makes effort to reduce interest or ask for a waiver or maybe some discounts
depending on the negotiations between creditor bank(s) and AKPK.


2) Assume the debts is about 160k, how many will be the repayment per month?
ANS: Already answered above.

3) Assume that I had personal loan which already paid for 2 years, mean another 3 years to go, but how am I to sum it when filling DMP form? (DMP application had a column to fill CURRENT OWING AMOUNT, however, I will put the current outstanding amount, but does AKPK will deduct the interest from that sum? If not, we will pay double interest when enrol in DMP as I know AKPK will add up the sum of owing then nego with bank, and bank will add up the interest on the DMP repayment)
ANS: On the loan amount, write the balance loan owing plus interest. Normally, AKPK's purpose is to nego wth the bank to waive out or reduce all interests or even ask for discount to reduce the debt as much as possible. After this, one possible way is to convert the net debt into term loan spreading over a period of 10 years. In this case of conversion to term loan, it knocks down interest rate to the minimum and tends to offer you with a more practical repayment plan. Whatever it may be, you need to have sufficient net disposable income to provide for the continuous monthly repayment plan over the 10 years period. If you default in the monthly payment after being accepted into the DMP program, you will not have a second chance to get help from AKPK. For more info, kindly refer to the AKPK consultants. Answers given here are only for general understanding.
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answered on Oct 6, 2009 at 16:37
by   PONY
Hi Notapro,

Very thks to your advises... I'm heading to AKPK soon.... hope everything is fine...
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answered on Jul 19, 2015 at 17:52
by   Will
Hi Pony - any update on your visit to AKPK?

Would like to know if 10 years is the recommended time period for repayment or it can be shorten?  Since some debtors can pay relevant amount but not up to 10 years.  Thanks.
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