National Debt Management Agency has hands full

The Credit Counselling And Debt Management Agency (AKPK) managed individual debts amounting to almost RM4.9 billion involving 52,497 borrowers in the past five years until December 2010.

Deputy Finance Minister Senator Donald Lim Siang Chai said through AKPK’s programmes, 504 cases involving loans worth RM14 million were settled by borrowers.

“Debt management involves the restructuring of credit card debts, personal loans, and housing and car loans,” he told the Dewan Rakyat today.

He was replying to a question from Juslie Ajirol (BN-Libaran) who wanted to know AKPK’s role in individual debt management referred under the Debt Management Programme since five years ago.

Lim said AKPK was established by Bank Negara Malaysia in April 2006 with the objective of providing services to individuals like financial education, and counseling and advice on financial and credit management.

— Bernama