Appointment for the Briefing workshop on AKPK : 23rd March, 2009
Appointment for the personal counciling : 1st April, 2009
Official submission of DMP application form : 1st April, 2009
Approval of DMP by AKPK : 29th April, 2009
Receipt of letter of approval : 15th May, 2009
From the day of attending the first briefing to the receipt of official approved letter, the process took 1 month and 3 weeks.
The first call from the bank : 1st April, 2009
The last call from the bank : 27th May, 2009
From the day of official application, I had been harassed by the banks for almost 2 months. I almost surrendered to the banks by borrowing money from relatives to settle at least one month's installment to the banks just to keep their mouth shut, however, I persisted to hang on with the dues ... It was a tough 2 months of dark days to bear with the banks.
Today is 29th May, 2009 ... already 2 days without any phone calls from the bank. I will have to monitor further to see whether any further calls from the banks by next week.
Friday, 29 May 2009
Debit Card instead of credit card
After entering the AKPK scheme, all your existing credits will be declared null and void by the banks. It was "hard" to live without any credit cards in hand since I had been living with the credit cards for the past 30 years. I was quite dependent on credit cards for paying bills, petrols , it was rather uneasy to have to carry more cash now.
I have decided to draw a line with credit cards , even if I am able to settle my present debt, I will never ever apply for a new credit card again. I had enough from the Banks ... I shall cut my dependent on banks for loans.
How cleverly, VISA and Master card have come out with the idea of debit card, the product is able to solve my present problem of carrying more cash in my pocket. I had applied for a Master and a VISA debit card now , the cards have the same functions as the credit cards except that you have a larger control over your own spending, you sign on the purchases with your own money deposited in your account, Nothing borrowing from the banks. I am glad that I am back to normal of getting the feel of carrying cards in my pocket . I have the flexibility in purchasing petrol, giving a deposit during the Hotel Check in and the settlement of monthly utility bills. The wonderful thing is that my online business which allowed me to draw cash from my PAYPAL account is able to accept my debit card as a tool for drawing money as well.
Credit Cards brought me down, knocked me down completely. If you are unable to have a control over your spending on future monies by owning credit cards, please forget about applying one. You have the choice of a debit card - you will never fall into trouble as you are spending within means.
I have decided to draw a line with credit cards , even if I am able to settle my present debt, I will never ever apply for a new credit card again. I had enough from the Banks ... I shall cut my dependent on banks for loans.
How cleverly, VISA and Master card have come out with the idea of debit card, the product is able to solve my present problem of carrying more cash in my pocket. I had applied for a Master and a VISA debit card now , the cards have the same functions as the credit cards except that you have a larger control over your own spending, you sign on the purchases with your own money deposited in your account, Nothing borrowing from the banks. I am glad that I am back to normal of getting the feel of carrying cards in my pocket . I have the flexibility in purchasing petrol, giving a deposit during the Hotel Check in and the settlement of monthly utility bills. The wonderful thing is that my online business which allowed me to draw cash from my PAYPAL account is able to accept my debit card as a tool for drawing money as well.
Credit Cards brought me down, knocked me down completely. If you are unable to have a control over your spending on future monies by owning credit cards, please forget about applying one. You have the choice of a debit card - you will never fall into trouble as you are spending within means.
Wednesday, 27 May 2009
Ways of harrassment by Banks
While you are in the DMP .. banks will NOT stop harrassing with phone calls and letters . Banks will :
1. Call you by your handphone asking for payments. At the initial stage, bank's telephone numbers will appear on your handphone screen, the bank's telephone numbers are easily differentiated by their unique numbers e.g 03- xxxxx0000 etc., Usually , the calls will come in at about lunch time .... everyday.
2. At the later stage, the banks will adopt a "private no" to call you which means no telephone numbers will appear on your handset screen. Similarly, asking payment from you .
3. "Private no" will appear more frequent during the early hours of the morning when you have not made any payment to the banks, however, this time when you press to answer the phone, no one was speaking at the other end, and lines cut off.
4. SMS will arrive in your mailbox in the evenings more frequently threathening stern actions will be taken against you.
5. SMS will arrive in your mailbox requesting you to call back the bank center.
6. Each time the officer over the phone was a different person from the previous .
Banks are really Childish ... they are playing with your mind ... to disturb you at different occassions just to annoy you ,hoping that you will pay some instalments to stop them from calling again. They are no gentleman, having known that you are in the AKPK DMP, they harass you more often ... I do NOT know why do they behave such a way ? Since the inception of AKPK , it has been 3 years now, many cases had been dealt with , thousands of AKPK cases processed, banks should be more mature to accept the procedure. As the AKPK officer says :"once you are in the DMP, do NOT bother about the banks, do NOT pay any money to the banks ... AKPK will do the payments when you are in the programme."
AKPK says one thing, Banks practice the other things !
Some bank officers can turn the other way round to tell me that " Do NOT trust on AKPK, the process by AKPK on the application will take months, you will better pay up your instalments, if you don't, what will happen if your application fails ? you have more debts to pay .... ". What a stupid advice from the bank, if I had the money, should I approach AKPK for help ?
After battling with the banks for almost 2 months ... I am sick with the banks, I find the banks are inmature, childish ... Yes, I blamed myself for borrowing money from the banks, Yes, I do tell myself it is my duty to pay back whatever borrowed back to the backs, and all this while , I had been observing a gentleman deal with the banks, I answered to all their calls, however, they had NOT shown a little mercy on my hardship. The banks are no better than the animal ... when we are in the hardship, we seek for counciling to find our way out, perhaps, someone is kind enough to shed some light to lead us through the hardship. What did the bank do ? I am totally disappointed with their attitudes ... gone with the banks , I have no confidence in you anymore ! I will take every opportunity to screw up the banks from now on .. as the chinese saying goes " you celebrate your 1st day, I will cheerish on the 15th day".
1. Call you by your handphone asking for payments. At the initial stage, bank's telephone numbers will appear on your handphone screen, the bank's telephone numbers are easily differentiated by their unique numbers e.g 03- xxxxx0000 etc., Usually , the calls will come in at about lunch time .... everyday.
2. At the later stage, the banks will adopt a "private no" to call you which means no telephone numbers will appear on your handset screen. Similarly, asking payment from you .
3. "Private no" will appear more frequent during the early hours of the morning when you have not made any payment to the banks, however, this time when you press to answer the phone, no one was speaking at the other end, and lines cut off.
4. SMS will arrive in your mailbox in the evenings more frequently threathening stern actions will be taken against you.
5. SMS will arrive in your mailbox requesting you to call back the bank center.
6. Each time the officer over the phone was a different person from the previous .
Banks are really Childish ... they are playing with your mind ... to disturb you at different occassions just to annoy you ,hoping that you will pay some instalments to stop them from calling again. They are no gentleman, having known that you are in the AKPK DMP, they harass you more often ... I do NOT know why do they behave such a way ? Since the inception of AKPK , it has been 3 years now, many cases had been dealt with , thousands of AKPK cases processed, banks should be more mature to accept the procedure. As the AKPK officer says :"once you are in the DMP, do NOT bother about the banks, do NOT pay any money to the banks ... AKPK will do the payments when you are in the programme."
AKPK says one thing, Banks practice the other things !
Some bank officers can turn the other way round to tell me that " Do NOT trust on AKPK, the process by AKPK on the application will take months, you will better pay up your instalments, if you don't, what will happen if your application fails ? you have more debts to pay .... ". What a stupid advice from the bank, if I had the money, should I approach AKPK for help ?
After battling with the banks for almost 2 months ... I am sick with the banks, I find the banks are inmature, childish ... Yes, I blamed myself for borrowing money from the banks, Yes, I do tell myself it is my duty to pay back whatever borrowed back to the backs, and all this while , I had been observing a gentleman deal with the banks, I answered to all their calls, however, they had NOT shown a little mercy on my hardship. The banks are no better than the animal ... when we are in the hardship, we seek for counciling to find our way out, perhaps, someone is kind enough to shed some light to lead us through the hardship. What did the bank do ? I am totally disappointed with their attitudes ... gone with the banks , I have no confidence in you anymore ! I will take every opportunity to screw up the banks from now on .. as the chinese saying goes " you celebrate your 1st day, I will cheerish on the 15th day".
Tuesday, 26 May 2009
Bank said :"can you chase up AKPK to make payment ?"
It must be killing for the bank to call to say that " can you please chase up AKPK for the due payment ?" ... Yes, my AKPK DMP had been approved by the AKPK, somehow, the payment which I had made earlier with AKPK has NOT been distributed to all the banks. Yes, the banks had received my fax of the AKPK approved letter , BUT still, they are hard pressing for money ... What can I do ? Banks are really mean and harsh, plenty money with them , yet still threatening for the small money of my monthly instalment ... I do NOT know why can't they wait for a few more days for AKPK to release the money ? They do NOT trust AKPK ?? Come on, there are millions and millions of ringgit to be paid to these banks by AKPK . I really hate these banks, they are bloodless, merciless ...Fine, the banks are bloodless, why are the staffs and officers are bloodless too ? The officers who had called me through the phones changed from calls to calls, no single officer was of the same person, no officer seemed to know what had been transpired during my last conversation with the previous officer. Every calls repeated with the same message, and I had to rewind my explanation over and over again ... it seems, there is no update on the record. These banks are pretending to be deaf and forgetful, go to hell with them, I will NOT entertain their calls anymore, I shall get mad and properly screw them up from now on - how can I tolerate further on these harassing calls for nothing, as if I have nothing to do ! Yes, my AKPK has been approved ... I shall NOT be nice talking to these banks with their unwanted calls ... Yes, be brave, screw them up ! I have done nothing wrong, I am making payments for my debts, I am a loyal client to the banks, I owe them no money ( if my instalment is up to date ), what is that to scare about ! I have decided to screw them properly when I receive the next call from an officer of the bank !
Sunday, 24 May 2009
Hoping my blog on AKPK will reach out to ALL
A simple reason why I write on this blog entitled AKPK... When I was totally hopeless in searching for answers to resolve my heavy debts on credit cards and personal loans, I noted AKPK from its homepage. I was able to follow the instructions as given by AKPK to go through the process of the application of DMP , however, I hardly find much informations pertaining from the internet as to the outcome of the process of DMP. It was really hard to pass through the days waiting for the approval of the DMP, coupled with the harassment from the banks for the outstanding payments. My intention is to write something so that I am able to assist many who are in the same boat as me, hopefully, I could relieved part of their worries.
I know my blog will NOT reach out quickly to the many ... however, I hope all of you who had approached AKPK, and submitted your DMP application a great success in application. All I have to say is, trust your counsellor , if a DMP application form is given to you during the interview, you are almost there to the application. Ignore the harrassment from the bank ( although it is NOT easy ... ) try to be calm, you will get your letter of offer from AKPK without fail.
Good luck to ALL.
I know my blog will NOT reach out quickly to the many ... however, I hope all of you who had approached AKPK, and submitted your DMP application a great success in application. All I have to say is, trust your counsellor , if a DMP application form is given to you during the interview, you are almost there to the application. Ignore the harrassment from the bank ( although it is NOT easy ... ) try to be calm, you will get your letter of offer from AKPK without fail.
Good luck to ALL.
Mean Banks
There are several mean banks in the town .. I will NOT mention their names. Whilst waiting for my AKPK DMP to be approved, these banks will never fail to call, SMS, let the phone rang once and cut off .... purposely call to the office, to the house to inform my office staffs, my spouse about my due instalments.
I have a few standing orders with payments debited from account monthly due to insurance and study loan instalments, hardly a fraction of the monthly due to my credit cards, I would NOT expect the banks will debit such fund supposedly for my standing orders, however, the banks sucked the fund without any mercy leaving my standing orders left unpaid. I was angry BUT could NOT complain ... the banks are real blood suckers. I told them thousand and one time that I was in the DMP programme by AKPK, they seemed to be deaf and did not hear what I had told them.
Banks are really efficient in collecting monies and totally inefficient in listening to your needs.
Banks will NOT always be the winner, I was happy to see many of the banks in the USA had collapsed overnite, served them right ! I would NOT have angry with the banks, it is their attitude in pursuing matter that made me frustrated with them. Since the existence of AKPK is a fact, if the banks do NOT accept to the policy of AKPK, by all means , sound it out to the Bank Negara and scrap the DMP programme, they had quietly accepted the DMP programme BUT in actual fact, did NOT want to stick to the rules of the PLAN. If you can take a look at some of the credit card statements, there is a string of advisory message at the footnote saying that if you find difficulty in settling the monthly credit card bills, please contact AKPK for assistance. What a notorious face of the banks, on one hand advise clients to seek assistance with AKPK, however, when we have turned to AKPK, the banks refused to honour the facts. What a doubled head snakes the banks are ???????
I will NOT praise banks for the assistance in granting loans in the past, if they had been kind in listening to my voice when I had signed up with DMP, I will definitely give credit to the banks for their gentlemanship, however, they are NOT, they are simply blood suckers. It was the most difficult moment when I was faced with heavy debts unpaid, it was AKPK which was providing the shelter and comfort all this while, well, banks on the other hand were spiking on my heart and my heart was bleeding until the final rescue by AKPK.
Shit to the Banks, and cheerish to AKPK !
I have a few standing orders with payments debited from account monthly due to insurance and study loan instalments, hardly a fraction of the monthly due to my credit cards, I would NOT expect the banks will debit such fund supposedly for my standing orders, however, the banks sucked the fund without any mercy leaving my standing orders left unpaid. I was angry BUT could NOT complain ... the banks are real blood suckers. I told them thousand and one time that I was in the DMP programme by AKPK, they seemed to be deaf and did not hear what I had told them.
Banks are really efficient in collecting monies and totally inefficient in listening to your needs.
Banks will NOT always be the winner, I was happy to see many of the banks in the USA had collapsed overnite, served them right ! I would NOT have angry with the banks, it is their attitude in pursuing matter that made me frustrated with them. Since the existence of AKPK is a fact, if the banks do NOT accept to the policy of AKPK, by all means , sound it out to the Bank Negara and scrap the DMP programme, they had quietly accepted the DMP programme BUT in actual fact, did NOT want to stick to the rules of the PLAN. If you can take a look at some of the credit card statements, there is a string of advisory message at the footnote saying that if you find difficulty in settling the monthly credit card bills, please contact AKPK for assistance. What a notorious face of the banks, on one hand advise clients to seek assistance with AKPK, however, when we have turned to AKPK, the banks refused to honour the facts. What a doubled head snakes the banks are ???????
I will NOT praise banks for the assistance in granting loans in the past, if they had been kind in listening to my voice when I had signed up with DMP, I will definitely give credit to the banks for their gentlemanship, however, they are NOT, they are simply blood suckers. It was the most difficult moment when I was faced with heavy debts unpaid, it was AKPK which was providing the shelter and comfort all this while, well, banks on the other hand were spiking on my heart and my heart was bleeding until the final rescue by AKPK.
Shit to the Banks, and cheerish to AKPK !
Tuesday, 19 May 2009
My AKPK DMP approval letter came in normal mail
Today 19th May 2009, I received the official approved letter from AKPK confirming my status of application of DMP. I will have to serve the monthly installment from this month onwards . I have a smaller sum to pay for the first 2 years and 50% higher installment to pay for the next 8 years. I am 53 this year, hence, I will be totally relieved on my 63rd birthday.... a long long way, unless somewhere on the road, I strike a fortune and I am able to settle with the bank earlier. Yeah, I will NOT forcast what will be the life for the next 10 years, I will just concentrate to settle the amount as stipulated by AKPK - I have succeeded in consolidated 12 credit cards and 4 personal loans in a single AKPK account. From now on, I will ONLY pay a single sum to AKPK instead of dashing in and out of the banks at several dates of the month. I will pray that I shall be sound and safe for the next 10 years, I will NOT know what will crop up if something happen to me again within the 10 years, I have no time to think of this further.
Thanks to AKPK for the rescue, without AKPK, I am sure I am already a bankrupt with my house, my vehicles forced SOLD by the banks. At least, I am able to breathe a little, have NOT breathe such a fresh air for a long long time.
Although I have the letter from AKPK today which was postmarked on the 8th May, 2009 - 10 days ago .... from the letter I could see AKPK also forwarded the copies to the various banks and I believe these banks would have the similar letters in hand , however, today, I still encountered 2 banks sending me nasty SMS saying serious action would be taken against me soon. I am NOT too worry about the WARNING by bank as I have the AKPK letter in my hand. I am pondering at this juncture, why are these banks still hard pressing for payments ?
I began to fax the AKPK letter to several banks which had earlier given me the fax nos, I am yet to fax to all the banks. I hope by next week, I will have no more calls from these haunting banks.
If you have credit card debts with the banks and unable to settle promptly, be quick to seek the assistance from the AKPK, I think AKPK will be able to assist. The sooner you approach, the earlier you get your letter of approval. GOOD LUCK to All ....
Thanks to AKPK for the rescue, without AKPK, I am sure I am already a bankrupt with my house, my vehicles forced SOLD by the banks. At least, I am able to breathe a little, have NOT breathe such a fresh air for a long long time.
Although I have the letter from AKPK today which was postmarked on the 8th May, 2009 - 10 days ago .... from the letter I could see AKPK also forwarded the copies to the various banks and I believe these banks would have the similar letters in hand , however, today, I still encountered 2 banks sending me nasty SMS saying serious action would be taken against me soon. I am NOT too worry about the WARNING by bank as I have the AKPK letter in my hand. I am pondering at this juncture, why are these banks still hard pressing for payments ?
I began to fax the AKPK letter to several banks which had earlier given me the fax nos, I am yet to fax to all the banks. I hope by next week, I will have no more calls from these haunting banks.
If you have credit card debts with the banks and unable to settle promptly, be quick to seek the assistance from the AKPK, I think AKPK will be able to assist. The sooner you approach, the earlier you get your letter of approval. GOOD LUCK to All ....
Sunday, 10 May 2009
My experience with loan sharks (ah long)
Never go for the loan sharks ! I was in deep trouble, thinking that loan sharks could offer assistance to relief my financial constraints, eventually, I ran into deeper debts.
Ah long's flyer says " Approval of loan is easy with low interest ", and it is NOT really a truth when you approach for the loan. Ah Long will have to survey on your working environment, to take a look at your resident, to ask for a deposit of a cheque .. and the interest is definitely NOT low as advertised. I took a loan of RM 10,000.00 from an Ah Long :
Loan Amount : RM 10,000.00
Cheque deposit : RM 10,000.00
Cash deposit : RM 1,000.00
Service charge : RM 300.00
Interest for 7 days period @ 12 % = RM 1,200.00
Total deduction : RM 2,500.00
I get : RM 7, 500.00 and signed for a borrowing deed document of RM 10,000.00.
Well, I borrowed RM 10,000.00 and I was given RM 7,500.00. A computation that is a disadvantage to your side, however, given no choice, What can you do ? You do NOT know where is the Ah Long's office, the transaction is done by runners. From the day the money is banked into your account, you are liable to pay back the principle sum in a week's time, or you have the option to pay for the 12% interest for a drag of a further week.
Ah Long office girl will call up to get your confirmation on the deposit of the money into your account. The runner will call you within the 7 days every now and then to check whether you are able to pay the principle sum at the maturity period or will like to continue paying for the interest.
It was additional burden after taking the loan from the Ah Long, very soon a week ended, I was unable to find money to settle for the principle sum but opted for the payment for the interest to drag for additional 7 days - RM 1200.00 dumped unneccessary again.
Ah Long's money did NOT help me in relieving my debt problem, it escalated my debt issue and added harassment to my daily life. I decided to find money to terminate Ah Long's loan in the following week and I did. On the day of maturity, I brought cash and met Ah Long's runner at the car park of a supermarket, handed over the cash to him, however, the runner repeatedly refused to accept the cash but to pursuade me to pay for the interest and continuing to use the cash. I was firm and insisted to settle the loan by saying that I would have to travel abroad and would NOT be around for a month, hence, did NOT need the cash. The runner had no choice BUT to return my cheque deposited with them in exchange for the cash. I demanded for the borrowing deed agreement that I had signed earlier to be returned, however, the runner said it was not necessary to return at this juncture, the agreement deed was kept safely at the office, it would save the trouble for signing another agreement deed if I were to borrow in the future. I could NOT recover the agreement deed till now. I am really worry that one day the Ah Long will present the agreement deed that I had signed and claimed that I owed them RM 10,000.00, it is written in Black and White!
Even I have settled the Ah Long's money .Ah Long's runner will call from now and then to lure me into further loans. I often replied politely that I did not need borrowing anymore.
Do NOT borrow from the Ah Long .... the interest will kill you in no time. The calls from them will really harass your normal life ... Stay away from them.
Ah long's flyer says " Approval of loan is easy with low interest ", and it is NOT really a truth when you approach for the loan. Ah Long will have to survey on your working environment, to take a look at your resident, to ask for a deposit of a cheque .. and the interest is definitely NOT low as advertised. I took a loan of RM 10,000.00 from an Ah Long :
Loan Amount : RM 10,000.00
Cheque deposit : RM 10,000.00
Cash deposit : RM 1,000.00
Service charge : RM 300.00
Interest for 7 days period @ 12 % = RM 1,200.00
Total deduction : RM 2,500.00
I get : RM 7, 500.00 and signed for a borrowing deed document of RM 10,000.00.
Well, I borrowed RM 10,000.00 and I was given RM 7,500.00. A computation that is a disadvantage to your side, however, given no choice, What can you do ? You do NOT know where is the Ah Long's office, the transaction is done by runners. From the day the money is banked into your account, you are liable to pay back the principle sum in a week's time, or you have the option to pay for the 12% interest for a drag of a further week.
Ah Long office girl will call up to get your confirmation on the deposit of the money into your account. The runner will call you within the 7 days every now and then to check whether you are able to pay the principle sum at the maturity period or will like to continue paying for the interest.
It was additional burden after taking the loan from the Ah Long, very soon a week ended, I was unable to find money to settle for the principle sum but opted for the payment for the interest to drag for additional 7 days - RM 1200.00 dumped unneccessary again.
Ah Long's money did NOT help me in relieving my debt problem, it escalated my debt issue and added harassment to my daily life. I decided to find money to terminate Ah Long's loan in the following week and I did. On the day of maturity, I brought cash and met Ah Long's runner at the car park of a supermarket, handed over the cash to him, however, the runner repeatedly refused to accept the cash but to pursuade me to pay for the interest and continuing to use the cash. I was firm and insisted to settle the loan by saying that I would have to travel abroad and would NOT be around for a month, hence, did NOT need the cash. The runner had no choice BUT to return my cheque deposited with them in exchange for the cash. I demanded for the borrowing deed agreement that I had signed earlier to be returned, however, the runner said it was not necessary to return at this juncture, the agreement deed was kept safely at the office, it would save the trouble for signing another agreement deed if I were to borrow in the future. I could NOT recover the agreement deed till now. I am really worry that one day the Ah Long will present the agreement deed that I had signed and claimed that I owed them RM 10,000.00, it is written in Black and White!
Even I have settled the Ah Long's money .Ah Long's runner will call from now and then to lure me into further loans. I often replied politely that I did not need borrowing anymore.
Do NOT borrow from the Ah Long .... the interest will kill you in no time. The calls from them will really harass your normal life ... Stay away from them.
Do not hide facts while applying for AKPK
While applying for DMP with AKPK, list down all the facts required by the application form. DO Not hide any information, be sincere in making the application. The information as disclosed by you will assist you in the application. Any false statement may lead to a delay OR rejection on your application.
Compute your disposable income carefully i.e the surplus money you have monthly after deducting all the household, other loans expenses. The disposable income will determine on your monthly instalment for the DMP.
Disclose all your assets if you have any. No need to hide the facts, the information can easily be checked by the department, so, just tell the fact.
Disclose the fact if you are borrowing from the "Ah Long", at the computation of the disposable income, you are able to include the expense for the repayment to the unlicensed creditors.
Compute your disposable income carefully i.e the surplus money you have monthly after deducting all the household, other loans expenses. The disposable income will determine on your monthly instalment for the DMP.
Disclose all your assets if you have any. No need to hide the facts, the information can easily be checked by the department, so, just tell the fact.
Disclose the fact if you are borrowing from the "Ah Long", at the computation of the disposable income, you are able to include the expense for the repayment to the unlicensed creditors.
Saturday, 9 May 2009
AKPK briefing session
It is compulsory to attend an AKPK briefing session before proceeding to individual counciling and the application for DMP.
AKPK briefing sessions are conducted daily at the HQ at Maju Junction K. Lumpur. You can call up AKPK to fix for the attendance.
The briefing course lasted 1.5 hours , briefly it explains the role of AKPK and personal financial management. If one needs for the Debts management program after the briefing course, an appointment to seek counciling with the AKPK concilors can be made immediately after the briefing session.
At the HQ, daily briefing session which can accomodate up to approx. 50-60 persons per ssession is full and the queque for the appointment with councilor may take 1-2 weeks.
It is advisable to call up AKPK sooner if you are really burdened with heavy debts. The earlier you approach, the early you can walk out of the financial haze ... as the application of DMP may take up to 45 days or longer, so do NOT hesitate, act promptly to have your financial problem dealt immediately !
AKPK briefing sessions are conducted daily at the HQ at Maju Junction K. Lumpur. You can call up AKPK to fix for the attendance.
The briefing course lasted 1.5 hours , briefly it explains the role of AKPK and personal financial management. If one needs for the Debts management program after the briefing course, an appointment to seek counciling with the AKPK concilors can be made immediately after the briefing session.
At the HQ, daily briefing session which can accomodate up to approx. 50-60 persons per ssession is full and the queque for the appointment with councilor may take 1-2 weeks.
It is advisable to call up AKPK sooner if you are really burdened with heavy debts. The earlier you approach, the early you can walk out of the financial haze ... as the application of DMP may take up to 45 days or longer, so do NOT hesitate, act promptly to have your financial problem dealt immediately !
How and where to get a copy of CCRISS?
It is a must to attach a copy of CCRISS with your DMP application form. What is CCRISS ? It is a financial report maintained by Bank Negara indicating your overall financial status e.g the amount of loans you have with the banks, your punctuality in making monthly payments, your default payments etc., records indicated and updated monthly. You can proceed to the Ground floor of the Bank Negara to print a copy of the CCRISS. Just present your I/C and you can have a print of the personal copy of CCRISS f.o.c ..
CCRISS has the full detail of your loan amounts, and the figures printed on CCRISS ease your job in completing the DMP application form, you can just transfer all the figures from the CCRISS report to your DMP form.
Get a copy of the CCRISS ready whenever you have the time ..
CCRISS has the full detail of your loan amounts, and the figures printed on CCRISS ease your job in completing the DMP application form, you can just transfer all the figures from the CCRISS report to your DMP form.
Get a copy of the CCRISS ready whenever you have the time ..
The real faces of the Banks
It was the banks that slowly lured you into the trap of debts by giving and granting you loans over one's financial capability. My debts built up during the last 2 years amounting to an enormous figure which is beyond my realisation. Just imagine, I have 12 credit cards and 4 personal loans in my hands , a total debt figure of RM 400,000.00 to shoulder. I have myself to be blamed for committing the debts and it is the sole responsibility for me to settle the loans , of course when you borrow and you will have to pay, I have NOT denied on my responsibility, however, I am NOT happy with the attitude of the banks when comes to chasing for payments. As for my case, I had submitted for the application for DMP with AKPK for the restructuring of my monthly repayment of loans, the banks knew about that as I had sent , faxed the aknowledge slip issued by AKPK for the purpose of informing the bank of my status, however, the banks ignored totally on the status, BUT to chase constantly for my due payments.
When comes to legal matters, I was told once when you had signed up for the DMP application and made your first payment, you can opt to stop payment to your monthly due to banks until your DMP approval and make subsequent payments to AKPK account ONLY ! Banks eventually will show their real faces by issuing nasty letters, threathening SMS and phone calls ... they are no better than "Ah Long " and loan sharks. I won't not blame the banks for taking such an actions if I had NOT officially entered for the DMP programme, the fact is, I had been accepted for the AKPK programme, what is that to howl about ?
To ease the burden of the AKPK applicants, I feel Bank Negara could have a more rigid regulation to bar the Banks from disturbing their clients who present a proof on the application of the DMP, if in the case when DMP application fails, banks could continue to pursue to recover their loans with whatever means they like. Since every applicant went through the similar situation within the 1.5 - 2 months of the processing period and as I noted from the stories by many of the AKPKians, no one seemed to pay their bank dues once signed up for the DMP, which means Banks could hardly press for any payments from their clients once they are in the DMP. I really do NOT know what is the tactics of the banks by pressing hard on the clients, why should they do so fully knowing that the clients are in the DMP ? Why can't the banks give mercy to the clients ??? Banks have no mercy when comes to debts .. they are bloodless, believe me, If I don't owe them a single cent, I will slam on their faces.
I will like to tear the masks of the banks which I deem rude, harsh and merciless .
If I ever I have money, I will pay off the debts as quikly as possible.
If NOT for AKPK, I know fully well that, today I shall NOT be able to cope with the calls and nasty letters from the banks.
Thanks AKPK for the assitance.
When comes to legal matters, I was told once when you had signed up for the DMP application and made your first payment, you can opt to stop payment to your monthly due to banks until your DMP approval and make subsequent payments to AKPK account ONLY ! Banks eventually will show their real faces by issuing nasty letters, threathening SMS and phone calls ... they are no better than "Ah Long " and loan sharks. I won't not blame the banks for taking such an actions if I had NOT officially entered for the DMP programme, the fact is, I had been accepted for the AKPK programme, what is that to howl about ?
To ease the burden of the AKPK applicants, I feel Bank Negara could have a more rigid regulation to bar the Banks from disturbing their clients who present a proof on the application of the DMP, if in the case when DMP application fails, banks could continue to pursue to recover their loans with whatever means they like. Since every applicant went through the similar situation within the 1.5 - 2 months of the processing period and as I noted from the stories by many of the AKPKians, no one seemed to pay their bank dues once signed up for the DMP, which means Banks could hardly press for any payments from their clients once they are in the DMP. I really do NOT know what is the tactics of the banks by pressing hard on the clients, why should they do so fully knowing that the clients are in the DMP ? Why can't the banks give mercy to the clients ??? Banks have no mercy when comes to debts .. they are bloodless, believe me, If I don't owe them a single cent, I will slam on their faces.
I will like to tear the masks of the banks which I deem rude, harsh and merciless .
If I ever I have money, I will pay off the debts as quikly as possible.
If NOT for AKPK, I know fully well that, today I shall NOT be able to cope with the calls and nasty letters from the banks.
Thanks AKPK for the assitance.
Other stories from AKPK comrades
Very little is known on AKPK matters, especially the process of the application for DMP can take more than 30 days ... during the waiting period, banks kept chasing for payment, getting harsher each day, it was really helpless during the period, filled with fear and worries. I took a search on google for "AKPK", hundreds of thousands sites appeared, I went slowly through the list, and clicked on to any blogs, webpages to find for success stories on the application of DMP of other AKPK comrades, hopefully, I could find some tips on the application and the ways to counteract the phone calls from the banks.
Yes, as AKPK does NOT provide a definite answer as to when will the application be approved ? and it does NOT even have a definite confirmation of a sure approval for every applicant, this makes the wait for the approval more difficult. Suffering from sleepless nights is for sure, no appetite for foods, no fun of everything, every of us is suffering the same.
I feel good when I read others are getting their AKPK approval, I share the joy with them. I know I am on my way to receive the approval letter ... today is the 37th day of my application and I had the confirmation from the AKPK over the telephone on the 30th day of my application that it had been approved awaiting the preparation of the letter. I am pretty sure I will receive my letter soon, will wait for that.
In a way, other stories from AKPKians ( a name given by one of the bloggers ) help to ease my worries during the waiting period. Their success stories somehow reflect and hint on possible approval of my application of the DMP, they boost my confidence in AKPK .. All I have to do is be patient and wait for the letter. I hope I can share with others who are facing financial trouble with my success story as well !
Praying to have the letter arriving at my doorstep by next week ...
Yes, as AKPK does NOT provide a definite answer as to when will the application be approved ? and it does NOT even have a definite confirmation of a sure approval for every applicant, this makes the wait for the approval more difficult. Suffering from sleepless nights is for sure, no appetite for foods, no fun of everything, every of us is suffering the same.
I feel good when I read others are getting their AKPK approval, I share the joy with them. I know I am on my way to receive the approval letter ... today is the 37th day of my application and I had the confirmation from the AKPK over the telephone on the 30th day of my application that it had been approved awaiting the preparation of the letter. I am pretty sure I will receive my letter soon, will wait for that.
In a way, other stories from AKPKians ( a name given by one of the bloggers ) help to ease my worries during the waiting period. Their success stories somehow reflect and hint on possible approval of my application of the DMP, they boost my confidence in AKPK .. All I have to do is be patient and wait for the letter. I hope I can share with others who are facing financial trouble with my success story as well !
Praying to have the letter arriving at my doorstep by next week ...
Friday, 8 May 2009
AKPK's DMP application form
I find completing the DMP application form is a rather "tough" task, as I have more than 10 existing loans to serve, hence, I am required to list out the complete details of these loans on the DMP form. The DMP form has NOT sufficient columns for my long list of loans, I will have to get the form photostated to complete the task.
Some Details in DMP form required your confirmation:
1. Your monthly financial surplus.
- the computation includes your partner's salary
2. All the properties you own and the current value of those assets.
3. Your reasons for applying for DMP .
As I was making my official application immediately when I had the DMP form after the counciling session, the time was restricted when I would have to complete a few tasks within the short period of time. If I had decided to apply at a leisure time, probably I would NOT be so taxing on completing the application form. Hence, My advice to those who are making application on the same day of interview to get all the informations, documents and the First payment to AKPK ready. Of course during the submission of the DMP form, you will have to enclose a payment slip. I made my first payment on the day of the application by cash to MAYBANK at the Jalan Tuanku Abdul Rahman branch and presented the receipt with my application form.
You will have to state reasons for the application of DMP. I have provided with the following reasons :
1. Economy slow down affecting my income and salary.
2. Using credit cards/personal loans for financing to my business.
3. Over commitment on the usage of credit cards without realise.
4. Partially entangled into private loans.
Please take note that when you were given a form to fill after the first financial briefing , the income computation does NOT include the spouse's income, however the actual DMP form requires you to include your spouse's income in the DMP form if your spouse is a salaried person. You must show a surplus on the monthly basic income and expenses in order for AKPK to determine on your monthly payment on DMP.
You are required to complete all the assets/properties you have under your name or wife's name ... Lands, houses and Cars. An estimated value has to given to your assets.
Supporting documents : ( All in photocopies , size - A4)
1. photocopy of front and back of your IC
2. Salary slips ( 3 months ) or a personal declaration on your personal income (photocoy)
3. bank slip showing first payment to AKPK
4. Photocopy of the latest statement of your credit cards/personal loans
What you will receive in return on submission of the application form :
1. An aknowledgement slip from the AKPK councilor
- This aknowledgement slip is to presented to the banks if they call for subsequent payment, the slip serves as a proof your status in the DMP programme and the banks are NOT suppose to disturb you until the approval of your application.
However, I find the aknowledgement slip is NOT as powerful as it is supposed to be, I made letters giving the slips to the various banks , somehow, no bank is honouring and respecting the slips, I was faced with continual calls from banks chasing for instalments. Well, time will past, once AKPK approves on your application, the calls from the bank will cease. Be patient and calm on the 30 -45 days' period on your application of your DMP. Bank disturb and disrupt your mind, handle with their staffs politely, it will soon be over. Once your DMP has been approved , the next is to service your AKPK loan promptly. You will soon be reliefed from further usage of credit cards as you have no more card facilities with you, you will no longer spend anymore "future monies".
Some Details in DMP form required your confirmation:
1. Your monthly financial surplus.
- the computation includes your partner's salary
2. All the properties you own and the current value of those assets.
3. Your reasons for applying for DMP .
As I was making my official application immediately when I had the DMP form after the counciling session, the time was restricted when I would have to complete a few tasks within the short period of time. If I had decided to apply at a leisure time, probably I would NOT be so taxing on completing the application form. Hence, My advice to those who are making application on the same day of interview to get all the informations, documents and the First payment to AKPK ready. Of course during the submission of the DMP form, you will have to enclose a payment slip. I made my first payment on the day of the application by cash to MAYBANK at the Jalan Tuanku Abdul Rahman branch and presented the receipt with my application form.
You will have to state reasons for the application of DMP. I have provided with the following reasons :
1. Economy slow down affecting my income and salary.
2. Using credit cards/personal loans for financing to my business.
3. Over commitment on the usage of credit cards without realise.
4. Partially entangled into private loans.
Please take note that when you were given a form to fill after the first financial briefing , the income computation does NOT include the spouse's income, however the actual DMP form requires you to include your spouse's income in the DMP form if your spouse is a salaried person. You must show a surplus on the monthly basic income and expenses in order for AKPK to determine on your monthly payment on DMP.
You are required to complete all the assets/properties you have under your name or wife's name ... Lands, houses and Cars. An estimated value has to given to your assets.
Supporting documents : ( All in photocopies , size - A4)
1. photocopy of front and back of your IC
2. Salary slips ( 3 months ) or a personal declaration on your personal income (photocoy)
3. bank slip showing first payment to AKPK
4. Photocopy of the latest statement of your credit cards/personal loans
What you will receive in return on submission of the application form :
1. An aknowledgement slip from the AKPK councilor
- This aknowledgement slip is to presented to the banks if they call for subsequent payment, the slip serves as a proof your status in the DMP programme and the banks are NOT suppose to disturb you until the approval of your application.
However, I find the aknowledgement slip is NOT as powerful as it is supposed to be, I made letters giving the slips to the various banks , somehow, no bank is honouring and respecting the slips, I was faced with continual calls from banks chasing for instalments. Well, time will past, once AKPK approves on your application, the calls from the bank will cease. Be patient and calm on the 30 -45 days' period on your application of your DMP. Bank disturb and disrupt your mind, handle with their staffs politely, it will soon be over. Once your DMP has been approved , the next is to service your AKPK loan promptly. You will soon be reliefed from further usage of credit cards as you have no more card facilities with you, you will no longer spend anymore "future monies".
What will you lose on successfull application with AKPK ?
AKPK's main aim to assist, hence, I can see the advantages on AKPK's DMP rather than the disadvantages. All in all you will lose the followings :
1. Under the AKPK programme, you will lose all your credit card facilities. Once your application is approved, all the credit cards will be discontinued automatically.
2. Once you are in the DMP plan by AKPK, a remark will be recorded in the CCRISS and probably, you will find difficulty in getting other financing loans from the various banks.
1. Under the AKPK programme, you will lose all your credit card facilities. Once your application is approved, all the credit cards will be discontinued automatically.
2. Once you are in the DMP plan by AKPK, a remark will be recorded in the CCRISS and probably, you will find difficulty in getting other financing loans from the various banks.
DMP by AKPK
DMP ( debt management programme ) introduced by AKPK is a debt structuring plan to help those running into credit card / personal loans and find difficulty in servicing the loans.
How do you confirm your difficulty in servicing the loans ?
1. If you have drawn to almost the full limit of your credit cards.
2. If you are only paying the 5% minimum payments each month and do NOT walk out from the situation continuosly for months.
3. If you still depending on withdrawing cash from your credit cards to service the monthly instalments.
How does DMP restructure your debts ?
As the current PLAN as finalised by the banks with AKPK :
1. Consolidate all your credit card/personal loans into one account.
2. Restructure the total debt by a maximum 10 year loan payable via an AKPK account to be distributed to all the various banks.
3. A lower interest comparable to the current credit card rate standing at 9% per annum applies to the consolidated account.
Hence, with the provision by AKPK, one will enjoy a lower interest rate on existing debts with lower monthly repayment and a longer period for completing the payments to the loans. As a rough indication - one may be required to pay at only one fifth of his present monthly commitment to the banks e.g if you are serving a monthly instalment of RM 10,000.00, probably with AKPK, you will ONLY pay RM 2,000.00. Naturally, it is a great relief to the debtors.
AKPK does NOT seem to limit on the age of the applicants and the age to complete the payments to the loan, hence, we are able to see that AKPK is willing to provide assistance to ALL who are running into difficulties with debts. If age limitation is brought into inconsideration for application, many applications will be turned down. I met an old man in the late sixties at the AKPK office whom has successfully had his DMP application approved by AKPK, and I could see his joy on the face narrating his story on how he ran into the debts after his retirement, he told me he had been serving AKPK payments for the 5th month. I forgot to ask him, how did he get through the DMP if he has already retired without an income .. somehow, the question remains unanswered in my mind, however, I have a positive thinking, I think AKPK had counciled on him and provided the solution. He praised AKPK for providing the proper counciling and assistance.
How do you confirm your difficulty in servicing the loans ?
1. If you have drawn to almost the full limit of your credit cards.
2. If you are only paying the 5% minimum payments each month and do NOT walk out from the situation continuosly for months.
3. If you still depending on withdrawing cash from your credit cards to service the monthly instalments.
How does DMP restructure your debts ?
As the current PLAN as finalised by the banks with AKPK :
1. Consolidate all your credit card/personal loans into one account.
2. Restructure the total debt by a maximum 10 year loan payable via an AKPK account to be distributed to all the various banks.
3. A lower interest comparable to the current credit card rate standing at 9% per annum applies to the consolidated account.
Hence, with the provision by AKPK, one will enjoy a lower interest rate on existing debts with lower monthly repayment and a longer period for completing the payments to the loans. As a rough indication - one may be required to pay at only one fifth of his present monthly commitment to the banks e.g if you are serving a monthly instalment of RM 10,000.00, probably with AKPK, you will ONLY pay RM 2,000.00. Naturally, it is a great relief to the debtors.
AKPK does NOT seem to limit on the age of the applicants and the age to complete the payments to the loan, hence, we are able to see that AKPK is willing to provide assistance to ALL who are running into difficulties with debts. If age limitation is brought into inconsideration for application, many applications will be turned down. I met an old man in the late sixties at the AKPK office whom has successfully had his DMP application approved by AKPK, and I could see his joy on the face narrating his story on how he ran into the debts after his retirement, he told me he had been serving AKPK payments for the 5th month. I forgot to ask him, how did he get through the DMP if he has already retired without an income .. somehow, the question remains unanswered in my mind, however, I have a positive thinking, I think AKPK had counciled on him and provided the solution. He praised AKPK for providing the proper counciling and assistance.
Wednesday, 6 May 2009
How long to get your DMP approved by AKPK?
From the first day of your application accepted by AKPK, as per schedule your application will be approved within 30 days , if there is nothing crops up with your application.
An official approval letter will be issued by AKPK and copies forwarded to the various banks. You are however advised to make photocopies of the approval letter and forward to the various banks yourself so as to speed up the reprocessing of the loan debts with the banks, in a way it helps to stop the banks from calling you again on the outstanding debts.
You are advised to pick up the phone and call up AKPK on the 30th day to find out the status of your application, if the application is approved by the 30th day, it may takes another 14 days to process the approval letter. All in All it will take approximately 45 days to approve on your application, hence, you must be prepared to face the numerous telephone calls from the banks asking you to pay up your monthly instalments. However, with the backing and assurance from AKPK, you must stand firm to answer politely to the bank officers. It is no point of getting yourself annoyed with the bank officers, just remember, the bank officers are taking instructions from his superiors, that is their duties to chase up the customers like you for payments. Just bear for the 45 days, there must be light at the end of the dark tunnel, you shall be on your way to be relieved from the fears, worries on your enormous debt. You shall breathe fresh air, you shall sleep comfortably by the end of the 45 days when the approval letter from AKPK is in your hand.
Seek your assistance with AKPK if you are really in financial trouble. There must be a solution for you to resolve your debt problems. AKPK has assisted me to reduce the monthly instalment to a figure within my capability. My hope of living on with my family rekindles ... though I know I will NOT get rich in the rest of my life, however, I find peace of mind is of the utmost importance in life. I can sleep well now 'cos I find the peace of mind with AKPK. Thanks.
An official approval letter will be issued by AKPK and copies forwarded to the various banks. You are however advised to make photocopies of the approval letter and forward to the various banks yourself so as to speed up the reprocessing of the loan debts with the banks, in a way it helps to stop the banks from calling you again on the outstanding debts.
You are advised to pick up the phone and call up AKPK on the 30th day to find out the status of your application, if the application is approved by the 30th day, it may takes another 14 days to process the approval letter. All in All it will take approximately 45 days to approve on your application, hence, you must be prepared to face the numerous telephone calls from the banks asking you to pay up your monthly instalments. However, with the backing and assurance from AKPK, you must stand firm to answer politely to the bank officers. It is no point of getting yourself annoyed with the bank officers, just remember, the bank officers are taking instructions from his superiors, that is their duties to chase up the customers like you for payments. Just bear for the 45 days, there must be light at the end of the dark tunnel, you shall be on your way to be relieved from the fears, worries on your enormous debt. You shall breathe fresh air, you shall sleep comfortably by the end of the 45 days when the approval letter from AKPK is in your hand.
Seek your assistance with AKPK if you are really in financial trouble. There must be a solution for you to resolve your debt problems. AKPK has assisted me to reduce the monthly instalment to a figure within my capability. My hope of living on with my family rekindles ... though I know I will NOT get rich in the rest of my life, however, I find peace of mind is of the utmost importance in life. I can sleep well now 'cos I find the peace of mind with AKPK. Thanks.
Tuesday, 5 May 2009
Banks keep chasing for payments
I am facing with 10 banks for the debts on credit cards and personal loans.
Although I had officially entered into the DMP of the AKPK, the banks would NOT stop calling my mobile, my office and my home for the payments, even if I sent, faxed the aknowledgement slip signed by the AKPK to prove my status. There are banks keep changing their officers to call you at different times of the day, they seemed NOT to know anything about my application with AKPK or they were pretending NOT to know. They would try to threaten by saying my application with AKPK would take months, it was only lawful to pay the current instalments. GOD, I had 12 credit card debts and 4 personal loans to pay ... if I was able to pay, I would NOT have walked into AKPK to seek for assistance. I told the bank officers my difficulty and I had committed my first payment with AKPK and I had left little for my survival for the month, well, at times the officer who called might accept your explanation, after a while or in the next one or two days, other officers from the same bank would call again, I had to repeat my story. I wonder why didn't the bank note or record my application status with the bank, I had black and white copies sent and faxed to them, I even told them many a times over the phone. I maintained my temper as I was on the losing end , I needed AKPK to negotiate to them , I would need the bank to approve my application of the DMP , Hence, I was patient to talk to the bank officers. The game of the repeated calls by the bank officers continuosly lasting for almost a month .. everyday , when the phone rang, I would note the number and got myself ready to answer to such unwanting calls , the phone numbers normally appeared as "private nos" OR "03-xxxxxxxxx" (with a chain of repeating similar numerals). I was really mind disturbed by these phone calls and had sleepless nights praying to have the AKPK application to be approved at the soonest.
Besides phone calls, I began to receive reminder letters and at the end I received some nasty letters from certain banks threatening to pass the debt case to their lawyers. It was real difficult to handle the bank , there were days full of worries. I was thinking would the bank sent some money collecting agents to approach me at the house during the evening ? I began to suspicious on vehicles and persons walked near to my house ... till now, no money collecting agents had come forth.
From the many conversations with the bank officers, I gathered :
1. Most of the banks seemed NOT really happy with the intervention of AKPK on the debts.
2. Most of the banks would think the processing job by AKPK would take months, they were NOT confident AKPK could approve an application within a month.
3. Most of the banks would try to recoupe even a month of the instalment.
4. Most of the banks are realistic , they turned from friendly to nasty when coming to debts, there is no mercy at all. I hated myself for believing in banks in the past.
5. Most of the banks took informations/records in favour to them and disregarded all other informations/records NOT in favour to them. I had sent and faxed AKPK aknowledgement slip proving my status with the application , the banks received the records however, they had been pretending NOT to know anything about the status.
Intermittently after receiving many calls from the banks, I began to call AKPK, of which I really did NOT want to bother AKPK before the promised 30 days' period, I was really living in fear and had no choice. Each time I called AKPK, the officer in charge was really kind to entertain to my phone by telling me NOT to entertain the bank officers and NOT to make any payment to the bank because I was already enrolled in the DMP and I had made my first payment, it was the responsibility of the AKPK to negotiate with the banks and distribute the sum of money I had deposited with them. Each time I called AKPK, I knew I would hear the same answer, BUT I felt confident and brave after the conversation with the AKPK officers. AKPK was just like a shield that protected my unrest minds.
I was living with threats from the phone calls from the banks and counter acted by ringing AKPK for a solution on the threats. I did NOT how long the battling with the banks would last . I could NOT sit down to concentrate on my work. Many a times, I was tempted to switch off my handphones and refused to answer to the calls from the banks, however, I still had to answer to my client's phone calls , hence, I had no choice but to leave my hand phone on all the time. I thought of not answering to the bank calls ( I could decifer the banks' numbers ) But I worry they would be annoyed and disapprove my application.
I noted the several advices from AKPK during the period :
1. DO not settle any payment with the bank once you were in the DMP plan.
2. DO not worry on the bank calls, the bank officers are doing their duties to call.
3. Write, fax the aknowledge slip from AKPK to the banks, tell the banks you are in the DMP plan.
Well, a hard 30 days' period of the process of the DMP ... never in my life bombarding by hundreds of phone calls with the same issue and content . The nightmare is soon coming to an end. I was instructed to proceed to make my second instalment and I was told my DMP was approved waiting for the official letter to arrive. Thanks AKPK for standing with me for the past month.
I stop for a while to ponder, if AKPK does NOT exist and I am currently facing with such an enormous bank debt, what can I do ? Will I walk to the end of the road ? I wonder ? I must admit at this juncture, AKPK had extended its helping hand and I had no second thought on what I would do ... I would NOT know, if without AKPK, I would still be in this world ??? A real thank you , AKPK !
Although I had officially entered into the DMP of the AKPK, the banks would NOT stop calling my mobile, my office and my home for the payments, even if I sent, faxed the aknowledgement slip signed by the AKPK to prove my status. There are banks keep changing their officers to call you at different times of the day, they seemed NOT to know anything about my application with AKPK or they were pretending NOT to know. They would try to threaten by saying my application with AKPK would take months, it was only lawful to pay the current instalments. GOD, I had 12 credit card debts and 4 personal loans to pay ... if I was able to pay, I would NOT have walked into AKPK to seek for assistance. I told the bank officers my difficulty and I had committed my first payment with AKPK and I had left little for my survival for the month, well, at times the officer who called might accept your explanation, after a while or in the next one or two days, other officers from the same bank would call again, I had to repeat my story. I wonder why didn't the bank note or record my application status with the bank, I had black and white copies sent and faxed to them, I even told them many a times over the phone. I maintained my temper as I was on the losing end , I needed AKPK to negotiate to them , I would need the bank to approve my application of the DMP , Hence, I was patient to talk to the bank officers. The game of the repeated calls by the bank officers continuosly lasting for almost a month .. everyday , when the phone rang, I would note the number and got myself ready to answer to such unwanting calls , the phone numbers normally appeared as "private nos" OR "03-xxxxxxxxx" (with a chain of repeating similar numerals). I was really mind disturbed by these phone calls and had sleepless nights praying to have the AKPK application to be approved at the soonest.
Besides phone calls, I began to receive reminder letters and at the end I received some nasty letters from certain banks threatening to pass the debt case to their lawyers. It was real difficult to handle the bank , there were days full of worries. I was thinking would the bank sent some money collecting agents to approach me at the house during the evening ? I began to suspicious on vehicles and persons walked near to my house ... till now, no money collecting agents had come forth.
From the many conversations with the bank officers, I gathered :
1. Most of the banks seemed NOT really happy with the intervention of AKPK on the debts.
2. Most of the banks would think the processing job by AKPK would take months, they were NOT confident AKPK could approve an application within a month.
3. Most of the banks would try to recoupe even a month of the instalment.
4. Most of the banks are realistic , they turned from friendly to nasty when coming to debts, there is no mercy at all. I hated myself for believing in banks in the past.
5. Most of the banks took informations/records in favour to them and disregarded all other informations/records NOT in favour to them. I had sent and faxed AKPK aknowledgement slip proving my status with the application , the banks received the records however, they had been pretending NOT to know anything about the status.
Intermittently after receiving many calls from the banks, I began to call AKPK, of which I really did NOT want to bother AKPK before the promised 30 days' period, I was really living in fear and had no choice. Each time I called AKPK, the officer in charge was really kind to entertain to my phone by telling me NOT to entertain the bank officers and NOT to make any payment to the bank because I was already enrolled in the DMP and I had made my first payment, it was the responsibility of the AKPK to negotiate with the banks and distribute the sum of money I had deposited with them. Each time I called AKPK, I knew I would hear the same answer, BUT I felt confident and brave after the conversation with the AKPK officers. AKPK was just like a shield that protected my unrest minds.
I was living with threats from the phone calls from the banks and counter acted by ringing AKPK for a solution on the threats. I did NOT how long the battling with the banks would last . I could NOT sit down to concentrate on my work. Many a times, I was tempted to switch off my handphones and refused to answer to the calls from the banks, however, I still had to answer to my client's phone calls , hence, I had no choice but to leave my hand phone on all the time. I thought of not answering to the bank calls ( I could decifer the banks' numbers ) But I worry they would be annoyed and disapprove my application.
I noted the several advices from AKPK during the period :
1. DO not settle any payment with the bank once you were in the DMP plan.
2. DO not worry on the bank calls, the bank officers are doing their duties to call.
3. Write, fax the aknowledge slip from AKPK to the banks, tell the banks you are in the DMP plan.
Well, a hard 30 days' period of the process of the DMP ... never in my life bombarding by hundreds of phone calls with the same issue and content . The nightmare is soon coming to an end. I was instructed to proceed to make my second instalment and I was told my DMP was approved waiting for the official letter to arrive. Thanks AKPK for standing with me for the past month.
I stop for a while to ponder, if AKPK does NOT exist and I am currently facing with such an enormous bank debt, what can I do ? Will I walk to the end of the road ? I wonder ? I must admit at this juncture, AKPK had extended its helping hand and I had no second thought on what I would do ... I would NOT know, if without AKPK, I would still be in this world ??? A real thank you , AKPK !
Sunday, 3 May 2009
Seeking Assistance with AKPK
As on March current year :
My debt statistics :
Total credit cards : 12
Total personal loans : 4
Total unsecured loan : RM 435,000.00
Total monthly instalments for the unsecured loan : RM 20,000.00
Besides, I am committed with other loans :
Housing loans, car loans, study loans = RM 15,000.00 per month.
I had a heavy instalment to pay monthly amounting to RM 35,000.00
I was unable to serve my monthly instalments, having read an article about AKPK in the local newspapers, I had decided to walk into AKPK's office @ Maju junction to seek for assistance. I had been suffering from sleepless night worrying about to find money to settle my heavy debt. I am a small business man badly hit by the slow down of the economy, my monthly collection is becoming less to allow me to serve the bank and credit card loans. I was glad that I had made my wise decision to meet the AKPK councilors. I will like to say that all the AKPK staffs, right from the counter staffs to councilors are very friendly indeed !
I was registered immediately for a 1.5 hour briefing session during my first visit. Whilst waiting for the briefing session to take place, I was able to meet and chat with several people who were also facing the similar problem as I do. From the conversation, I gained confidence in AKPK for solving my debt problems, although, I did NOT know, what guarantee AKPK could offer to help?
About 50 persons attended the 1.5 hour briefing in a small lecture room conducted by a friendly and experienced finance councilor. Registration for an official date to meet the personal councilor was made. I was given a date 10 days away as the earlier dates had been fully taken up. I was told by the councilor that for the recent months, the number of people seeking for assistance at AKPK shot up tremendously! I could NOT wait any longer but to accept the date as given, after all, I still need time to prepare the documents for the meeting with the councilor.
Important documents needed for the application of DMP :
1. CCRIS report from Bank Negara - this is the first time I have heard of this report. I adjourned immediately to Bank Negara to secure a copy of my personal financial report - RICRIS, a comprehensive report on all your existing loans with the financial instutions, the detail of your defaul payments if any.
2. 3 months salary slips if you are being employed OR a declaration report of your monthly income duly endorsed by a commissioner of oath if you are self employed.
3. Photocopies of the latest credit card and personal loan statements.
4. photocopy of your IC.
5. Complete an initial form of your estimated income against expenses leaving out the unsecured loan monthly payments ( e.g credit card and personal loan payments), you must have a positive surplus for AKPK to process negotiation with the banks for the restructure of your debt payments.
Having obtained the documents required, you are ready to meet the councilor at the time and date stipulated.
I made my journey early to AKPK office early morning on the day of the appointment, I was still full with worries prior to the personal encounter with the councilor. Smiles on the face of the councilor greeted me, I was a little relaxed. A quick conversation and we went through the figures of my existing debts. I was worry that the councilor would turn down my application for my enormous debt, however, many a times in the conversation, the councilor comforted me by saying that there are more of them having a debt which was even higher and asked me NOT to worry so much, AKPK would step forward to assist. The councilor advised that I should change my spending pattern and resort to a lower profile in life. I was convinced by the councilor. Finally, the councilor worked out a lump sum figure which was deemed to be affordable for me to settle the subsequent monthly instalment for my total debt. In my case, The figure worked out to be somewhat 20% of my current minimum monthly instalment. A great financial relief indeed ! I was given a new form to officially apply for the DMP, the councilor mentioned I could submit the application with the first payment made at MAYBANK at anytime convenient to me. I thought I should make my application on the very day itself, and proceeded to make my first payment at the MAYBANK at Jalan Tuanku Abdul Rahman. It took me 2 hours to fill up the application with various informations. I submitted the application form with my first instalment bank in slip in the afternoon. I was given an aknowledgement slip endorsed by AKPK officer, I was told from the day itself, I was in the programme and was asked to call back in 30 days' time to check for the application status. I was advised to show the AKPK aknowledgement slip as a proof of application to the various bank if the bank officers were to call up for outstanding instalments.
I was greatly reliefed walking out of the AKPK office, Fresh air greeted me, I talked to myself, I could have a good sleep for the night. Great thanks to AKPK for the financial assistance.
I thought I could live in peace for the following 30 days whilst waiting for the approval from the AKPK, after paying for the first instalment to AKPK, I could hardly have any surplus to server the current monthly instalments for the various banks. I began to receive calls from banking officers requesting for payments days after days, I explained in vain and faxed the AKPK aknowledgement slip to the banks, however, the banks refused to recognise such slips by saying sternly that my AKPK application had NOT been officially approved, I was required to continue to serve the monthly instalments until the official approval of the AKPK letter received. I called up AKPK several occassions to seek for shelter and advice, AKPK officers were politely entertaning to my repeated calls and giving advice to ignore the calls from the banks. It was difficult to ignore the calls from the banks, frequent calls were received in the office and house as well. I was disappointed with the attitudes of the Banking staffs, they knew my difficulty , which I had explained why I had to resort to AKPK ... somehow, they seemed to ignore such explanations. Well, a hard 30 days of battling and struggling with the banks, I called to check with AKPK for my application status, exactly on the 30th day, the application was approved, and I was advised to make my 2nd payment immediately to AKPK. The official approval further strenghten my battle with the banks, I will NOT have to worry much on the bank calls, I hope the calls from the bank will diminish following to my secure of my official approval of DMP from AKPK. Thanks to AKPK, my saviour !
Will like to share my experience with others who are entering into the DMP programme, please be patient, AKPK is willing to help and listen to your financial constraint. Be confident with AKPK, it is always there to assist. I owe my thanks to AKPK !
My debt statistics :
Total credit cards : 12
Total personal loans : 4
Total unsecured loan : RM 435,000.00
Total monthly instalments for the unsecured loan : RM 20,000.00
Besides, I am committed with other loans :
Housing loans, car loans, study loans = RM 15,000.00 per month.
I had a heavy instalment to pay monthly amounting to RM 35,000.00
I was unable to serve my monthly instalments, having read an article about AKPK in the local newspapers, I had decided to walk into AKPK's office @ Maju junction to seek for assistance. I had been suffering from sleepless night worrying about to find money to settle my heavy debt. I am a small business man badly hit by the slow down of the economy, my monthly collection is becoming less to allow me to serve the bank and credit card loans. I was glad that I had made my wise decision to meet the AKPK councilors. I will like to say that all the AKPK staffs, right from the counter staffs to councilors are very friendly indeed !
I was registered immediately for a 1.5 hour briefing session during my first visit. Whilst waiting for the briefing session to take place, I was able to meet and chat with several people who were also facing the similar problem as I do. From the conversation, I gained confidence in AKPK for solving my debt problems, although, I did NOT know, what guarantee AKPK could offer to help?
About 50 persons attended the 1.5 hour briefing in a small lecture room conducted by a friendly and experienced finance councilor. Registration for an official date to meet the personal councilor was made. I was given a date 10 days away as the earlier dates had been fully taken up. I was told by the councilor that for the recent months, the number of people seeking for assistance at AKPK shot up tremendously! I could NOT wait any longer but to accept the date as given, after all, I still need time to prepare the documents for the meeting with the councilor.
Important documents needed for the application of DMP :
1. CCRIS report from Bank Negara - this is the first time I have heard of this report. I adjourned immediately to Bank Negara to secure a copy of my personal financial report - RICRIS, a comprehensive report on all your existing loans with the financial instutions, the detail of your defaul payments if any.
2. 3 months salary slips if you are being employed OR a declaration report of your monthly income duly endorsed by a commissioner of oath if you are self employed.
3. Photocopies of the latest credit card and personal loan statements.
4. photocopy of your IC.
5. Complete an initial form of your estimated income against expenses leaving out the unsecured loan monthly payments ( e.g credit card and personal loan payments), you must have a positive surplus for AKPK to process negotiation with the banks for the restructure of your debt payments.
Having obtained the documents required, you are ready to meet the councilor at the time and date stipulated.
I made my journey early to AKPK office early morning on the day of the appointment, I was still full with worries prior to the personal encounter with the councilor. Smiles on the face of the councilor greeted me, I was a little relaxed. A quick conversation and we went through the figures of my existing debts. I was worry that the councilor would turn down my application for my enormous debt, however, many a times in the conversation, the councilor comforted me by saying that there are more of them having a debt which was even higher and asked me NOT to worry so much, AKPK would step forward to assist. The councilor advised that I should change my spending pattern and resort to a lower profile in life. I was convinced by the councilor. Finally, the councilor worked out a lump sum figure which was deemed to be affordable for me to settle the subsequent monthly instalment for my total debt. In my case, The figure worked out to be somewhat 20% of my current minimum monthly instalment. A great financial relief indeed ! I was given a new form to officially apply for the DMP, the councilor mentioned I could submit the application with the first payment made at MAYBANK at anytime convenient to me. I thought I should make my application on the very day itself, and proceeded to make my first payment at the MAYBANK at Jalan Tuanku Abdul Rahman. It took me 2 hours to fill up the application with various informations. I submitted the application form with my first instalment bank in slip in the afternoon. I was given an aknowledgement slip endorsed by AKPK officer, I was told from the day itself, I was in the programme and was asked to call back in 30 days' time to check for the application status. I was advised to show the AKPK aknowledgement slip as a proof of application to the various bank if the bank officers were to call up for outstanding instalments.
I was greatly reliefed walking out of the AKPK office, Fresh air greeted me, I talked to myself, I could have a good sleep for the night. Great thanks to AKPK for the financial assistance.
I thought I could live in peace for the following 30 days whilst waiting for the approval from the AKPK, after paying for the first instalment to AKPK, I could hardly have any surplus to server the current monthly instalments for the various banks. I began to receive calls from banking officers requesting for payments days after days, I explained in vain and faxed the AKPK aknowledgement slip to the banks, however, the banks refused to recognise such slips by saying sternly that my AKPK application had NOT been officially approved, I was required to continue to serve the monthly instalments until the official approval of the AKPK letter received. I called up AKPK several occassions to seek for shelter and advice, AKPK officers were politely entertaning to my repeated calls and giving advice to ignore the calls from the banks. It was difficult to ignore the calls from the banks, frequent calls were received in the office and house as well. I was disappointed with the attitudes of the Banking staffs, they knew my difficulty , which I had explained why I had to resort to AKPK ... somehow, they seemed to ignore such explanations. Well, a hard 30 days of battling and struggling with the banks, I called to check with AKPK for my application status, exactly on the 30th day, the application was approved, and I was advised to make my 2nd payment immediately to AKPK. The official approval further strenghten my battle with the banks, I will NOT have to worry much on the bank calls, I hope the calls from the bank will diminish following to my secure of my official approval of DMP from AKPK. Thanks to AKPK, my saviour !
Will like to share my experience with others who are entering into the DMP programme, please be patient, AKPK is willing to help and listen to your financial constraint. Be confident with AKPK, it is always there to assist. I owe my thanks to AKPK !
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