By Property Hunter
clock 23-05-2022
hit 2,888
Managing Your Credit in the New Norm

Credit is important when buying a home. Credit is what lenders use to determine if you're able to borrow money and to set the terms of your loan. In the homebuying process, lenders will look at your credit score to help determine the loan amount they're willing to offer you, the interest rate you'll pay, and whether you'll qualify for a loan at all.

The stronger your credit history, the greater your chances of getting a good mortgage interest rate. Lenders will look at your credit reports and scores to see if you qualify for a loan and what interest rate to give you.

Individuals with low credit scores are more likely to face higher interest rates and fees. In some cases, they may not be able to secure a loan at all. Buying a home is a big decision, and the process can be stressful. We want to help make the process easier.

For most people, credit is a good thing. It makes it possible for them to buy things they couldn’t otherwise afford. But in today’s economy, managing your credit (and your credit card) correctly is also important.

AKPK, a credit counselling and management agency set up by Bank Negara offers a Debt Management Programme(DMP). 

Through this programme, AKPK will help you develop a personalised debt repayment plan in consultation with your financial service providers.

Here are the benefits of joining AKPK’s Debt Management Programme(DMP):

1. Repayment Plan In Accordance With The Cash Flow

AKPK will set up a personalised debt repayment plan in consultation and agreement with your financial service providers. This will make your loan payments easier.

2. Postponement Of Legal Action(if applicable)

Those who are on the verge of bankruptcy can secure their status of not going bankrupt by joining this programme. AKPK will assist you in restructuring your loans to avoid bankruptcy. 

3. No Harassment From Debt Collectors

AKPK understands that debt collectors often harass consumers with irresponsible collection practices. They can be difficult to deal with, so they created DMP to provide a solution.


Source: AKPK

4. One-Mode For All Payments

AKPK provides a platform where you'll be able to make all debt payments on one platform without having to make single payments.

Here are some loans that can be considered under the DMP:

  • Credit cards


  • Personal loan

  • Micro loan

  • Loss on sales/vehicle transaction

  • Loan obligation

  • Housing loan

AKPK not only helps those who are bankrupt or those with financial problems but AKPK helps you restructure your finances and helps you have some savings at the end of the day.


For more information on this Debt Management Programme(DMP) by AKPK, you can head to .

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