AKPK Debt Management Programme (DMP) Helps Lower Credit Card Debt Repayments

Is your credit card debt up to your ear that you are trying to lower your monthly credit card repayments? If so, you have a few options to try out before opting for the AKPK debt management program (DMP).

Note: If you would like to know the process of applying for the AKPK DMP, please take your time to read A Credit Card Debt Woman is Under AKPK Debt Management Program Malaysia.

Of course, you don’t need a debt management program, also known as debt management plan, if you are able to lower the payments and pay down your debt steadily.

There are many ways to lower your monthly credit card payments, but I am sharing with you a few which I have tried before.

1. Pay More Than the Minimum Payments. If you pay more than the monthly required payments, then your minimum payment requirements will begin to drop in subsequent months.

To make this work, you must pay well above your minimum payment requirements AND stop using the credit cards for purchases.

2. Negotiate Lower Credit Card Payments with Your Creditors. Many banks and companies are willing to work out an alternate payment plan with you if you are sincere in paying off the balance.

3. Balance Transfer Your Multiple High APR Card Debt Balance to A New Credit Card with a Much Lower Interest Rate. Take advantage of low interest or 0% interest balance transfers. Interest charges are calculated on the basis of the interest rate or the APR applicable to your credit cards, so a lower APR rate means that your credit card debt will grow at a slower pace and thus switching over to a card with lower APR makes sense.

By transferring your multiple high APR card balance debt to a new low APR credit card, you are able to save money and reduce debt at the same time.

4. Refinance or Second Mortgage on Your House. By doing a refinance or second mortgage on your home, you can use the equity in your home to pay off your high interest credit cards.

The interest rate you get with a mortgage refinance is typically higher than the average, but it is often always lower than your credit card interest rates.

As a credit-card-debt woman who is now in the AKPK free debt management program (DMP), I have tried all the above mentioned ways to lower my credit card payments; I was able to reduce my credit card debt from RM63,809 to RM40,344 in one and a half years.

But why did I still opt for the debt management program to lower my credit card payments? There are a few reasons stated in Why Opting for AKPK Debt Management Program (DMP).

Due to AKPK’s lower debt repayments to my credit cards, I am able to Start Saving Money for Emergency Fund.

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