With current bad economy and job loss, the number of bankruptcy filings and bankruptcies are on the rise. Are you thinking of filing for bankruptcy to get out of debt?
If you are really thinking that bankruptcy is your only debt relief option, you may/might be wrong.
As a woman who was once loaded with RM63,809 credit card debt in 2007 and later reduced the debt amount to RM40,000 in 2008, I had also thought of going bankruptcy.
The thought of filing bankruptcy rose when balance transfers, non-performing loans, short term loans and personal loans didn’t work to bring down the interest rates and outstanding amount much.
On the contrary, there were late payment fees, cash advance fees, retail charges, over-the-limit fees and other miscellaneous charges that kept adding new debt to the credit card debt.
I know how it feels to be under so much pressure from debt that you can’t even think straight. But believe me when I tell you that bankruptcy should be your last resort option.
I’m talking about no hope of ever getting out of debt after trying out balance transfers, non-performing loans, short term loans, personal loans, debt consolidation loans, debt management programs, and debt settlement plans.
One of the reasons that I didn’t opt for bankruptcy was because of the fact that I could pay off my credit card debt through a debt management programme offered by AKPK.
If you are a Malaysian and loaded with credit card debt, you may have known about AKPK by now.
Enrolling in AKPK’s debt management plan is another debt relief option that many Malaysians with credit card debt are seeking now. It’s a free debt management program that charges NO counseling fee, enrolment fee or monthly fee.
I am currently in AKPK debt management plan. In fact, I have been in the program for a year now.
Read my bumpy journey when applying for AKPK’s debt management program in 2008 if you think you need help from credit counseling and debt management program to help you pay off credit card debt.
