Debt Management Program (DMP)
We provide free financial counseling and a structured Debt Management Program (DMP) to help you regain control of your finances. Our services include personalized debt restructuring, educational workshops on financial literacy, and ongoing support to guide you towards achieving your financial goals.
WHAT IS DMP?
The Debt Management Program (DMP) is a financial solution designed to help individuals manage outstanding loans and credit card debt. It offers a repayment plan based on your financial capability, with the aim of clearing your debts gradually while avoiding bankruptcy.
About DMP
1
Debt Restructuring
Debt restructuring is a process where creditors work with a borrower to modify the terms of their existing debts, making repayment more manageable. This can involve extending the loan tenure, which lowers monthly payments, or reducing the monthly installments directly. The goal is to provide relief to borrowers struggling with their financial obligations, enabling them to repay their debts more comfortably without defaulting.
2
Improve Credit Scoring
Enrolling in a Debt Management Program (DMP) helps safeguard an individual's credit rating by ensuring that payments are made on time and debts are managed effectively. By restructuring payment plans and avoiding defaults, borrowers can maintain or even improve their credit score over time, as consistent repayment is a key factor in creditworthiness.
3
Avoid Legal Issues
Participating in a Debt Management Program (DMP) can help individuals avoid serious legal consequences, such as bankruptcy, lawsuits, or other enforcement actions from creditors. By entering into an agreed-upon repayment plan, individuals demonstrate a commitment to repay their debts, which can prevent creditors from pursuing legal measures like wage garnishment, asset seizure, or court judgments.
Key Results:
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Before DMP: Jack was paying RM3,300 monthly with high credit card interest rates and loan payments.
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After DMP: Jack's monthly payment is reduced to RM1,128, significantly easing his financial burden.
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Credit Card Interest Calculated: Monthly payments calculated at 1.2% of outstanding balance.
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Loan Repayment Reduced: Personal loan installments reduced by 60%.
