Can AKPK Help with an ACOM Personal Loan? Here's What Malaysian Borrowers Need to Know
Managing personal finances and debt commitments can be challenging, especially when unexpected financial situations arise. Many Malaysians look for guidance on how to better manage their loans and understand the available support options.
AKPK (Agensi Kaunseling dan Pengurusan Kredit) plays an important role in helping individuals improve their financial management through counselling, education, and debt management assistance. At the same time, licensed financial providers such as ACOM (M) Sdn. Bhd. offer personal loan solutions for eligible customers.
Understanding the difference between AKPK and ACOM is important, especially for borrowers who want to know how debt management programmes work and whether different types of loans are eligible for assistance.
What is AKPK?
AKPK (Agensi Kaunseling dan Pengurusan Kredit), or the Credit Counselling and Debt Management Agency, is an agency established by Bank Negara Malaysia (BNM) to help individuals improve their financial management and resolve debt-related issues.
It is important to understand that AKPK is not a moneylender. AKPK does not provide personal loans or financing.
Instead, AKPK offers three main services:
- Financial counselling
- Financial education
- Debt Management Programme (DMP)
Its primary objective is to help individuals regain financial stability by providing professional financial advice and, where applicable, assisting them in restructuring eligible debts.
How Does AKPK Work?
When someone has trouble repaying debts, they may approach AKPK for assistance.
The process typically involves four key steps.
1. Financial Assessment
An AKPK financial counsellor reviews the applicant's overall financial position, including:
ü Monthly income
ü Monthly expenses
ü Existing debt commitments
ü Repayment capability
This assessment helps determine whether the individual is suitable for AKPK's Debt Management Programme.
2. Financial Counselling
AKPK provides guidance on budgeting, spending habits, and long-term financial planning to help borrowers improve their financial situation.
3. Debt Management Programme (DMP)
If the applicant is eligible, AKPK may negotiate with participating financial institutions to restructure repayment terms, making monthly repayments more manageable.
4. Structured Repayment
Once all parties agree, the borrower follows the new repayment schedule established under the Debt Management Programme.
What Types of Loans Does AKPK Cover?
AKPK's Debt Management Programme generally assists with eligible financing facilities provided by participating financial institutions, including:
· Personal loans from participating banks
· Credit card balances
· Housing loans
· Vehicle financing
· Islamic financing facilities
Eligibility depends on AKPK's assessment and the policies of participating financial institutions.
What Is ACOM Personal Loan?
ACOM (M) Sdn. Bhd. is a licensed moneylender in Malaysia, operating under the Moneylenders Act 1951.
As a wholly owned subsidiary of ACOM Co., Ltd., Japan, ACOM provides online personal loans to eligible Malaysian applicants through a secure and convenient digital application process. Unlike traditional banks, ACOM operates under the regulatory framework governing licensed moneylenders.
The application process is fully online, allowing customers MUST submit their loan applications directly through the ACOM Customer Portal without using third-party agents or intermediaries. Every ACOM loan application undergoes an internal credit assessment before approval.
For customer protection, ACOM does not request any upfront payment or processing fee before loan approval, except for Stamp Duty and Attestation Fees permitted under the Moneylenders Act 1951.
Can AKPK Help with an Outstanding ACOM Personal Loan?
This is one of the most frequently searched questions by borrowers.
The answer is No.
If you have an outstanding loan with ACOM, the loan cannot be included in AKPK's Debt Management Programme (DMP).
This is because AKPK does not regulate, supervise, or manage all types of personal debt in Malaysia. AKPK's Debt Management Programme ("DMP") only covers eligible financing facilities from creditors that participate in the programme. Since ACOM (M) Sdn. Bhd. does not participate in AKPK's DMP, ACOM Personal Loans cannot be included under the programme.
In other words, borrowers with an ACOM Personal Loan cannot apply to AKPK to restructure or consolidate that loan through the Debt Management Programme.
What Should You Do If You're Having Difficulty Repaying Your ACOM Personal Loan?
If you're finding it difficult to keep up with your ACOM loan repayments, don't ignore the situation.
Instead, you should:
- Always answer calls or messages from the ACOM Collection Team.
- Or contact ACOM as early as possible.
- Explain your current financial circumstances honestly and transparently.
- Discuss the options that may be available based on your individual situation.
- Continue communicating with ACOM if your financial circumstances change.
Taking proactive action early is often more effective than waiting until repayments become seriously overdue.
Remember, borrowing responsibly also means taking responsibility for your repayments. If you're facing difficulties, seeking assistance early is the best step toward finding a suitable solution.
At ACOM, trust is at the heart of everything we do. We understand that everyone may need financial assistance at different stages of life, and we're here to help eligible customers with transparent and responsible lending.
However, every loan comes with a responsibility. We encourage all borrowers to borrow only what they can comfortably repay and to plan their finances wisely before taking on any financial commitment.
A loan should support your goals, not create unnecessary financial stress.
