Problems
Mr. Noor, a high-income software engineer employed at a renowned bank in Kuala Lumpur, found himself burdened by past financial mistakes, accumulating a personal loan debt of RM80,000. In 2022, he enrolled in AKPK to restructure this debt.
In 2023, Mr. Noor wanted to purchase land in his hometown, despite his high income placing him in the T20 bracket, he is unable to get financing due to his involvement with AKPK. His banker repeatedly informed him that he would be unable to secure financing from the bank for the next 10 years, until his RM80K debt with AKPK was fully repaid.
Solution
In 2023, our advisor approached Mr. Noor and discovered that despite his high income, he was unable to secure financing due to his involvement with AKPK. To address this issue, we assisted Mr. Noor in obtaining a low cost short-term funding of RM85,000 to pay off his AKPK. This enabled him to clear his name from AKPK, and proceed with his loan application.
Results
In August 2023, just one month after clearing his name from AKPK, our credit advisor successfully helped Mr. Noor secure RM250,000 financing from two banks. Not only did we assist Mr. Noor in exiting the AKPK, but we also match Mr Noor credit profile with 13 banks in Malaysia, ultimately helping him secured RM250,000 personal loan with low interest rate of 2.85%, with repayment lower than what he was previously paying to AKPK.