The Credit Counselling and Debt Management Agency (AKPK) or commonly known as Agensi Kaunseling dan Pengurusan Kredit (AKPK),? is an agency established by Bank Negara Malaysia(BNM) in 2006.
It aimed to provide the public with counselling, advice, consultation and services needed to managing their finances wisely and more prudently. This include from money management, budgeting and credit related issues.
AKPK will act as a middle man to help in developing a personalised debt repayment plan with your financial service providers.
If a person have say five credit cards debt with different banks and pay only the minimum credit payment, the bank normally don?t entertain any debt repayment plan. Even if the bank did, it?s involved on that particular bank. You still have to negotiate with another 4 banks separately.
However, with the help of AKPK, you?ll get a higher? chance of personalised debt repayment plan across all the bank involved. So instead of paying to all five banks every months, you only pay one single payment to a bank. The payment also maybe reduce so you can have more surplus to cover the daily expenses.
Before AKPK takes any case, you must seek an advice from AKPK?s counsellors. You must also have a monthly income, obtain? your outstanding loan/debt from the individual banks and get the latest CCRIS?s report.
Read? How To Get Your Central Credit Reference Information System Credit Report| CCRIS
The counsellors will work with you to develop a personalised debt repayment plan? with your financial service providers. If the financial service providers agreed on the personalised debt repayment plan, you?ll gain peace of mind? and regain control of your life and debts.
According to Deputy Finance Minister, Datuk Dr Awang Adek Hussin, as at 31 august 2012, there are 196,014 people had sought the assistance of AKPK with 80,664 of them enrolled in the debt repayment plan, which aims to help borrowers improve their financial standing, reschedule their loans and avoid being declared bankrupt.
Only 2,316 people(1%) who obtained assistance from the Credit Counselling and Debt Management Agency (AKPK) under the debt management programme have fully paid up their debts amounting to RM72.5 million.
The Statistic of the individuals under the personalised debt repayment plan:
68% = those whose monthly income was less than RM3,000
57% of them were under 40 years of age
67% were male,
32% were from the private sector,
48% were self-employed and
8% were civil servants
78.28% faced a combination of financial difficulties, particularly in their housing loans, hire purchases and credit cards.
8.3% having credit card issues alone
2.2% having housing loans
1.64% having hire purchases issues alone
The main reasons for defaulting on servicing debts:
25%? were poor in financial planning
22% high medical expenses
15% business failures or slowdowns
13% loss of control on usage of credit cards
10% loss of jobs or retrenchments
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AKPK @ Program Mesra Rakyat 1Malaysia
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AKPK ( Agensi Kaunseling & Pengurusan Kredit ) ?RM? DramaTrailer
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AKPK Corporate Video
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- Credit Card Debt Consolidation for Your Financial Freedom
- How To Get Your Central Credit Reference Information System Credit Report| CCRIS
- How to Pay your RM50 Credit Card Service Tax without Paying| UOB Credit Card
- The Fastest Way to Get a Platinum Credit Card
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