AKPK & Banks Say Not To Worry About Late Payment Charges On The Monthly Statements?

Tell me you can still keep your calm after seeing the outstanding balance of your credit card as of today and in March is RM6,300 and RM6,400 respectively.

I think any reasonable mind will go mad or freaked out after seeing no noticeable decrease in credit card balance despite being in a debt management program, right?

This morning, I thought of doing a spreadsheet for all my credit card accounts. When comparing the figure of March and November statements of a bank, I was shocked to see RM6,300 and RM6,400.

How could it be? I had already been in AKPK debt management plan for one year, so logically, the amount owed should have dropped to less than RM6,000, right?

Ya, I was mad and freaked out. I knew it’s because of the late payment charges that showed up almost every month for the last few months.

I remember my Ipoh credit counsellor had told me before that there’s nothing to worry about the late payment fees. They would not show up anymore once the banks had everything updated.

I also thought the banks would remove the late charges from their record sooner or later, so I didn’t call or write to the banks. But after giving them so many months to get updated, the late charges still showed up in the statements.

Enough! Too much! So I gave AKPK Ipoh branch a call. As usual, the ever helpful Ms Lina answered the phone.

I told her about banks (except Public Bank) which still had the late charges printed on the monthly statements. After listening attentively to my complaint, Lina assured me not to worry about the late payment fees.

According to her, banks would stick to only collecting the agreed amount of outstanding balance plus interest charges. I hope the banks really do so.

To know the latest correct amount of each of my credit card, Ms Lina even gave me every bank’s phone number and name of person who is in charge of AKPK cases.

I did call one of the banks and raised my concern regarding the late payment charges. Again, I was reassured that there’s nothing to worry about the late fees.

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