Sunday, May 3, 2009

Just go to AKPK…they will help

I went back to my hometown last weekend and met an old friend. I helped him once negotiating with his creditor (banks) and Alhamdulillah most of its loan were now properly schedule and some were even settled.

But bank is just being a bank, a license-money-landing-blood-sucker, after two years of piously paying his debt, lately an officer from of the bank called saying that he actually got one more small loan account which has not been paid, or to be accurate not within the earlier negotiation. So the loan amount keeps exculpating and until today it already triple of the balance he remembered!

I was quite surprise when he told me that, but at the same time frustrated with him for not been careful enough to check thoroughly.

Anyway, again I will try to negotiate with the bank for him and hopefully the bank will accept base on his good track record.

I remember last time when I negotiated with the banks some of them is being very unreasonable. For example one officer from BSN Ipoh, who wanted to execute Writ Seizure and Sale against his (my friend) property, I manage to have it stopped and subsequently canceled. After the writ was cancel, I called the officer asking whether my client (friend) could pay by installments the debt, arrogantly the officer rejected my request (without thinking that his writ was actually cancelled and that he had no other means to recover the debt except by my friend own good intention). The officer even blocked the account to disable my friend from paying by installments. Funny, isn't the bank intention just to get their money, why then stop people from paying even little by little? If they think that the installments payment will disturb execution process, just then inform the court what is the current balance of the judgment debt. They fat lawyer should be able to advice that!

By the way, to cut short the story, this time when this friend came again to see me, I straight away inform him that this time I will not negotiate with the same stupid officer but rather to 'shoot' one legal letter to his manager, HQ and Bank Negara complaining his stupid attitude.

One last thing is to advice this poor fellow to go to AKPK and ask AKPK help him to restructure the debt. I am quite sure AKPK will be able to help him base on his sincere track record. Among the advantage of going there is that AKPK will try to negotiate with the bank on his behalf. This time bank will accept, because AKPK is an agency under Bank Negara..hehe (one of my favorite facts). So no more dealing with stupid arrogant officer.

Other benefit of AKPK may be found at their website, just google for AKPK..


  1. can u advise if we should seek legal help with we have problems with our creditors and have been unsuccessful in negotiating a repayment plan with the bank officer? AKPK does not help in secured loans.

  2. Hi,
    AKPK will not help you secure a loan.
    All they do is to tell you how to settle
    your loan amount.
    This might be of help:
    Awesome flash to understand debt.
    Anonymous 2.

  3. I went to AKPK and got them to reduce my monthly repayment from nearly 10K (and not reducing!!!) down to 2K for the first 3 years and 2.5k for another 6 years.

  4. I have an account with AKPK similar like our friend 'Anonymous'.My concern is the respective banks continue sending credt crd statements.The amount received from AKPK was indicated in the statement.However the bank also charge interest plus late charges.With this charges there is not much reduction in outstanding balances which I do not think that the balance can be settled within 10 years as originally structured by AKPK.

    Please share with me your thoughts...

  5. Today I just received my proposal letter from RHB bank regarding Debt Management Programme Under AKPK.
    Before this, I had to make a call each month when I received my credit card statement, to inform them regarding that I had joint AKPK dept management effective from May 2009, but why still sending credit card statement with Late Charge / Interest etc. and the total outstanding balance was keep incressing .
    Each time the officer will reply me that she will pass my message to the pic from cc dept.

    Tnx AKPK, my life is back to normal & my saving is incressing now.

  6. hi,In malaysia. is someone can help me.... can the bank appoint a debt collector to chase the outstanding amount after eight years from the last payment to bank.

  7. Hi Kevin,

    1. Do you still owe the bank?
    2. Will you "try" to collect your money from someone "after" 8 years or will you just forget it?

    Be rational, get yourself in trouble, work things out. All in all, continue to think rational in the process, don't let emotions cloud your judgements, and work to get yourself out of the mess.

  8. I'm in a lot of trouble now financially with the banks and I have been unemployed for almost 2mths. I recently started a new job but the pay is lower and the banks are calling and asking for pymts that hav not been paid (2mths & counting). I even rcvd letters from lawyers in rgds to this. Now I'm really troubled and don't know if AKPK can do anything as the amt is roughly around 50k+ with 3 banks.

  9. Hi, from my last visit at akpk there is no limit of the debt. I highly recommend you to go first and get first hand information from them. I believe they can help your case.

  10. Hi sir. My loan and card payment have been due for few months because i lost my job. Now i got a temporary job with basic income rm1k + commission, i know it's not going to cover my monthly repayment up to rm5000. I am dealing with bank personally now to get lower interest n lower min. repayment. I prefer to go through bank first, i think if i can bargain for lower monthly repayment, may be i dont need help from akpk...But if after i start making repayment to bank based on lower repayment my financial problem continue only then i go to akpk, do u think this is a wise decision? Pls advise. TQ.

  11. Hello Kamarul,

    I would like to ask u. I have a debt wif Maybank(AMEX)worth for 34k,lately i cant pay the term loan thr offer me,since that i receiving alot of harrasment saying u have to pay a certain amount, n then i went to AKPK and they schedule me wif a first session, so after thr bank called me i inform them that iam goin thru AKPK.Iam still waiting for the session wif the the AKPK consultant but the bank 3party threatend me of thr wanna seize my parents hs and gonna get things worth for the amount. I even fax them my AKPK form but thr still demanding.What should i do ?

  12. I have always lived below my means, yes it's unusual. Renting a room, saving for house deposit etc. So I am now really bugged off with this tenant who has not paid his rent for 5 months. He always has excuses and promises me next week and next week. The last straw is when I find out he traded in his BMW for a merc. I have given him notice but I want my money before he leaves(hopefully). Should I hire a debt collector? Am I responsible for any wrongdoing that the collector committed in carrying out his work? How do I find a reliable, legit one?

  13. Hi kamarul,

    recently my life are in totally dark side as i has been unemployed for 2 months.thank god that i manage to start a new job this month,and my car loan has been outstanding for keep pushing me to pay the full amount of the oustanding balance which i do not have that ability.though i have new job but the salary wont enough to cover the car loan payment too,is it possible for me to do refinance for car loan?and i do have some issue with the guarantor of the car loan,can i withdraw the guarantor or change guarantor?appreciate your reply.thanks

  14. Hi En. Irzuan. I've found your site when I was searching AKPK. There's a case I hope you can provide a thought or two. I've a friend who was contacted by a Debt Collector regarding her Credit Card Debt with 60K+ ten years ago. She didn't pay it till now and get contacted because of someone supplement a credit card to her. I read a post on saying that the debt will be waived after 12 years. Is it true?

  15. Hello there, its been quite sometimes that u posted this on ur blog, i hope u still reading this ... i have some question, recently i found out that my husband has some loans (Aeon Credit) tat he didnt pay for few years already, before we got married. Somehow the debt collectors got to know my number and inform me everyting, and now the worst part is they keep on harrassing me by calling me up anytime of the day and force us to pay at a given time, by failing to do so, they will go to my house and took whatever things that is in there, and they even say tat eventhough we are renting, they have control over the house, and they have the right to even force in. I dont understand what they mean here.., does that mean that they can just take whatever things inside the house even if its not belong to my husband and me? or can they take the house that we are renting to pay the debt? I felt its weird that they can take properties that was not under my husband and my name. Im asking my husband to go for AKPK because of this. and he just started work a few months ago. We have a baby that need extra care. If my husband's name is under AKPK already, and AKPK will temporarily blacklisted him until he complete his payment, Will I, as his wife, also get blacklisted although i dont have any bad record from the bank. Becoz im using 1 credit card only, just to book tickets to go back to my hometown every year. I scared that AKPK will black list me and i might not able to use it anymore. I hope you could give us some light and appreciated your feedback.

  16. Dear Linda, actually the debt was never waived, because once when u owe something to someone, the person will always have the right to claim it back from you.

    What the meant is that after the lapse of 12 years, the bank cannot file a summons in the court recovering for the debt because it was barred by the Limitation Act.

    I believe that in debt recovery, the limitation period is 6 years and not 12 years

  17. Hi, AKPK has released me from their umbrella by issuing the letter since now I am capable to pay my housing loan. The issue is when I want to refinance my property in order to reduce the monthly payment and the bank rejected since in citris its still stated than I am under AKPK umbrella. What should I do? Should I go to BN and show the letter and request them to update my status.

    Thank You

  18. Dear Anonymous,

    It is good if you can go to Bank Negara to update your status.

    You should bring the letter to the bank where you wishes to refinance your property.

    Khairul Aiman
    Messrs. Irzuan

  19. hello everyone,i'm allen,just wanna ask something,izzit join the AKPK need to sell all my property???

    pls let me know,my e-mail address :

    thank you.

  20. Hi, i need advice, i have recently been handed a proclamation of sale by the bank and the property is due to be auction within 3 weeks time.

    I've went to the bank one week prior to that notice and have made request to pay up the installments with my EPF...and filled in the request...and they have said a letter will be given out to me one week after the date of the request... but instead, i receive the notice.

    I have since gathered some money and wishes to pay off the said installments, will the auction be stopped and cancelled once i've settled the installments ?

  21. dear anonymous, we hope your case has been settled. you can stop the sale by paying all the instalments or offer the bank any term that the bank can agreed to settle the default. they just want their money. sorry for the very late reply..