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 !