Recently, someone asked us about AKPK. Can they apply for a loan if they have AKPK?

First of all, if you don’t know what AKPK is. AKPK stand for Agensi Kaunselling dan Pengurusan Kredit (AKPK) or the Credit Counselling and Debt Management Agency.

AKPK is set up by Bank Negara Malaysia (BNM) or our central Bank.

So here the thing, how can you fall under AKPK?

Sometimes life can be complicated and challenging.

Especially during a pandemic, everyone struggles in their way.

Some people may have financial difficulty paying for loans and end up all the loan accounts defaulted for months.

So, instead of letting the late interest kick in and the interest keep charging monthly, people who are caught up in these situations will reach out to AKPK.

If this continues for years, they are going to bleed out financially.

When this group of people reach out to AKPK, AKPK will try to help them up and negotiate with the Bank.

The negotiation will involve restructuring the payment to be lower and extending the repayment years or other methods they deem fit.

When someone is under the AKPK programme, all the loans are categorised as AKPK. The same goes for the CCRIS report; they will remark as AKPK.

When someone with AKPK applies for a new loan, the Bank will most likely reject their application.

The rejection is due to their CCRIS report showing AKPK remarks.

Well, it is an understandable rejection.

From the Bank’s point of view, if you can’t afford to serve your previous loan, how can you guarantee you can perform the new loan well.

By the end of the day, the Bank is a profit-making business. If the loan is not profitable and at higher risk, they won’t give out the loan.

So, how can we help this group of people? People who have AKPK.

From my point of view, only two ways to go about it.

  1. Use other people’s name

Use other people’s names when applying for loans and buying a new house. Maybe immediate family like your spouse, children, sibling or parents.

  1. Fully settled all the loans under AKPK.

You have to settle the loan that falls under AKPK entirely. Once fully paid, wait for the CCRIS to be updated before applying for a new loan.

Also, you can’t go back to the existing bank loan with AKPK.

For example, If you have a car loan with Bank A that falls under AKPK, you must fully settle the car loan. 

Then wait for the CCRIS to be updated before applying for a new loan.

Continue applying for a new loan to other banks except for Bank A because you have Bank A poor track record, and the chances of rejection are high.

So, if you have a problem paying your loan, please get in touch with AKPK.

You can check out their website here.

Before you go, you might want to read this too.







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