Yes, once you are in DMP , all your credit cards will automatically become null and void. You do NOT have to surrender your cards back to them, BUT, electronically, they are Barred from usage. A little inconvenience, after these years of buying petrol and paying bills by cards. Anyway, without the cards, I am able to control the exessive spending without knowledge.
Well, the existence of a new breed of cards : Debit card or Prepaid card which has the function of the credit card does give some feel of the credit card. I applied for a MayBank debit card today, and find that it is quite useful. The only difference, for debit card, you ONLY use the amount of cash you have in the account ... no longer using any "future cash" as you carry the credit card.
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hi,i face same credit card problem as u,the credit collector hired by bank had called n requested me to clear all the debts immediately or otherwise they (all the credit provide banks) will file a bankruptcy on me, so i plan to enrolled in AKPK's DMP like what you did.
ReplyDeletethere's a few questions i would like to ask,
- will my bank accounts be freeze after i enrolled in DMP??
- is there any limitation set on me besides all the credit cards will be void?
i m looking forward into your reply. i will be vy appreciate for it =) Thanks!
One more thing to mentioned, it's really vy nice that you had share all your experience on this blog, God bless you that u might be repay all the debts as soon as possible and i hope that u might get the good in return. =)
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