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AKPK Reapply Matter

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asked on Nov 17, 2017 at 18:12
by   Dave See
As I have a total debt of about RM30k from a  few banks.

1. My AKPK have been terminated due to late 
    payment but on process reapplying. 
2. If unsuccessful I will have to pay back to 
    bank individually myself, right? 
3. I continue to pay back as per AKPK or 
    normal bank policy payment? 
4. Will the bank make me a bankruptcy if I 
    failed to pay or pay partially? As my total 
    debt is less than RM50k? 
5. If the banks can't what else they will do? 

Please help anyone? Thanks. 
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5 Answers

answered on Nov 17, 2017 at 18:26
by   Anonymous
The answers to all the above Qs can be found in this forum. Just google inside this website. Understand the different situations and you can overcome yours fears.
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answered on Nov 17, 2017 at 20:32
by   mike
1. My AKPK have been terminated due to late 
    payment but on process reapplying.  

Ok as info.

2. If unsuccessful I will have to pay back to 
    bank individually myself, right?

Right.
  
3. I continue to pay back as per AKPK or 
    normal bank policy payment?

Bank policy payment?
  
4. Will the bank make me a bankruptcy if I 
    failed to pay or pay partially? As my total 
    debt is less than RM50k? 

They make you bankruptcy once the debt exceed RM50K

5. If the banks can't what else they will do? 

Request the service of a debt collector.
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answered on Nov 17, 2017 at 23:14
by   Dave See
Bank payment policy? 

What I am trying to ask is that shall I follow the agreed payment made by AKPK or have to follow the normal rate charged by the bank? 
Please advise. 
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answered on Nov 28, 2017 at 17:05
by   Watch Teller
For my experience, follow the AKPK installment plan amount. Respective bank already convert you loan to term loan (received new agreement) after you apply the AKPK.

The bank cannot change the new agreement, unless stated in the clause.
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answered on Nov 28, 2017 at 17:36
by   jeff005
edited Nov 28, 2017 at 18:05
by   jeff005
The DMP ceased to exist.
Any agreements signed is void.
Study Laws of Contract and study the terms stated for the DMP.
Most banks will follow back the Agreement you have signed when one apply for the card and all the backdated default charges will reappear. Check your current month bank cards statements for the dark reality.

For AKPK DMP, credit cards debts are not converted to TERM LOANs. Although the computations are based on TERM loan. It is never converted to TERM LOANs conditions. One would realize the contents when one receive the Statement of Claims in a Court Lawsuit. It is reverted to computations before the DMP.

One can apply for the DMP again after a Grace period of one year subject to employment status.
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