Tag Archives: debt management programs

Is Debt Management Program The Right Way To Go?

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Posted by Vedis the DMP Blogger on February 9, 2010 – 2:28 pm
Filed under Credit Card Debts, Debt Management Companies, Debt Management Programs, Questions & Answers

Question: Is debt management program the right way to go?

We are drowning in debt. So far we have managed to get our MINIMUM monthly payments out each month but we are getting no where.

Would a debt management program be a good option for us?

What exactly is a debt management program or debt management plan? Where do I find a reliable debt management company or agency one to work with?

How Do I Create A Debt Management Programme?

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Posted by Vedis the DMP Blogger on January 31, 2010 – 2:49 pm
Filed under Debt Management Companies, Debt Management Programs, Questions & Answers

Question: How do I create a debt management programme?

I did an internet search and all lead me to already established debt management programs. I want to set up my own debt management program, which can negotiate with creditors, consolidate loans etc… How do I get started?

I reiterate: There are literally thousands of debt management, consolidation, counseling websites and resources. I am not looking to manage my own debts, I am looking to start a debt management program for other people.

I want to know what grants to apply for to begin a start up program. I want to know what regulations, fees, licenses I need to start my own debt management program so that others can come to me for debt consolidation services.

AKPK DMP Blogger Is Free From $50 Annual Service Tax Per Credit Card!

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Posted by Vedis the DMP Blogger on November 13, 2009 – 2:38 pm
Filed under AKPK Debt Management Plan, Credit Card Debts, Credit Cards, Debit Cards, Debt Management Companies, Debt Management Programs, Financial News & Updates, PayPal Withdrawals

Am I considered lucky to be able to escape from the new RM50 service tax a year on every principal credit card and charge card since I am now in AKPK debt management programme? So is hubby :-)

Imagine how much annual service tax hubby and I had to pay if we still had the 15 credit cards!! 15 principal credit cards from 6 banks. Phew, it’s RM750!

According to financial analysts, it is predicted that at least 30% of the holders of 11 million cards in circulation who have more than one card will have to pay RM100 every year.

You know, the applications for new credit cards dropped by 80% following the Government’s announcement of the service tax starting 2010.

Don’t you think this new imposition is good to those who are thinking of applying credit cards? It scares them off and thus they carry no credit cards. No credit cards mean no credit card debts, right?

When there are no credit card debts, people will have no reason to turn to non-performing loans, short-term loans, personal loans, debt consolidation loans, AKPK debt management programs, or bankruptcy easily.

It’s also good to those of you who have stacks of credit cards; you are forced to reduce the number of cards you own. Having fewer credit cards means you have to cut down on spending, retail purchases and impulse buying.

Also, you get to learn to use cash and debit cards. As a credit-card-debt woman who is in AKPK’s debt management plan, I must say that I love using cash and debit card now.

I have had two debit cards, Public Bank Visa debit card and Tune Money Visa debit card. Both cards are not used for retail purchases. Noop. They are only used for collecting PayPal money from my online income.

Since PayPal has now allowed Malaysians to link their PayPal accounts to their Malaysian banks or overseas banks operating in Malaysia, I think I can totally stop using and renewing my Tune Money Visa debit card.

As for the Public Bank Visa debit card, I will keep on using as a backup for PayPal fund withdrawals.

A Debt Management Program When You Can No Longer Pay Your Credit Card Debts

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Posted by Vedis the DMP Blogger on October 19, 2009 – 2:56 am
Filed under Credit Counselors, Debt Management Programs

What happens when you can no longer pay your credit card debts or credit card payments? Well, you have the option of a debt management program to help bring you back to right financial track.

Debt management program, also known as debt management plan, is individually designed to consolidate all your multiple credit card payments into one lower payment.

The debt management repayment is often made affordable to you so that you can pay all your credit card payments.

Of course, a debt management plan is NOT an option for you if you are already at advanced litigation process or involved in bankruptcy.

If you find that a debt management program is right for you after a credit counselling session, your credit counsellor will start negotiating with your creditors to lower the credit card monthly payments, reduce the interest rates, and waive late payments and over-the-limit charges.

Often times, your creditors or banks will agree to the affordable repayment plan just so they can receive any amount of payment towards the balance you owe them.

As a credit card debt woman who is now in a free debt management program, I must admit that it is a great solution for helping me get rid of my credit card debts.

The DMP not only allows me to pay ONE lower repayment every month, it also stops the wave of annoying or even threatening phone calls or warning letters from the banks and credit card companies.

Signing up for a debt management program is easy; it’s a matter of finding a credit counseling and debt management company you feel comfortable with that is difficult.

Make sure you find a credit counselling and debt management agency that will work best for you. Remember, you want the right debt management program to put an end to your pestering debt problem, not creating more debt.