Debt Management – Get Free and Professional Help

You need help urgently when the following situations describe your personal finance:

• If you are not in control of your money;
• Have more debts than you can manage;
• If you are living paycheck to paycheck;
• Are only able to pay the minimum 5% on your credit card bills;
• If you are taking cash advances from your credit card to meet your expenses;
• Do not have any savings to meet personal or family emergencies;
• If you have a debt collector calling you regularly;
• If you are being served legal notice of demand.

Where can you get free professional assistance in Malaysia? The answer is AKPK (Agensi Kaunseling dan Pengurusan Kredit) or Credit Counseling and Debt Management Agency. AKPK is an agency set up by Bank Negara Malaysia or The Central Bank of Malaysia to provide financial education, financial counseling, and debt management for individuals.

AKPK offers a free Debt Management Programme to individuals who fall under these categories:

• Not an undischarged bankrupt
• An individual unable to manage their own debts
• Must have positive net income
• Not under advanced legal action
• No advanced litigation take by non-FI
• No loans were taken from an institution not regulated by Bank Negara Malaysia

When you have enrolled in the DMP you have to:

• Give up your credit cards
• Change your lifestyle (modify budget/cash flow to live within means)
• Make dedicated and prompt payments

To know more about AKPK you can go to their website at http://www.akpk.org.my