No one could have imagined that Mr. Herman* would ever get entangled in a bad case of debt. Successfully running and managing a computer repair shop, the luxury that came with owning his own private business afforded Mr. Herman’s wife to be a stay at home mother to their one year old son. It also helped Mr. Herman to take full care of his ageing mother.
 
The couple always managed their credit cards sensibly and continually honored the repayments on their outstanding in full amounts. On top of that Mr. Herman also knew the importance of savings and kept aside a percentage of the income he made from his business.
 
It was hard to say what exactly made him give up all his savings for an ailing friend in need. Other than seeing a friend face financial trouble, Mr. Herman was somewhat confident in knowing that he would not need the money in the near future.
 
Unfortunately circumstances cannot always be controlled. Only months after handing his friend every cent he had ever saved, Mr. Herman’s business faced stiff competition by a bigger firm that decided to set up their operations close to his base.
 
As business started dwindling, Mr. Herman used his credit cards to fund expenses to his ailing company. He figured that he needed to recoup his losses by injecting more investment to his company. Besides, he knew that he could always pay it off later when business got better.
 
As time passed it seemed that the financial freedom he constantly dreamt about since the slowdown of his business was getting further out of reach. Mr. Herman could not afford to make repayments on his credit cards from the little income he made through his business.
 
To make matters worse, when creditors came knocking on his door, he realized that he could no longer afford to support his family and at the same time handle repayments on his credit cards.
 
The stress of being unable to meet his credit card repayments coupled with a meager income to live on caused a lot of arguments within the household. Under tremendous pressure, it came as a relief when Mr. Herman, through his friend, heard about AKPK’s services.
 
After negotiations with the respective banks we managed to reduce the monthly debt repayment by almost 60%. We proposed a repayment plan that would not put too much pressure on Mr. Herman’s finances. Six months after being on the repayment plan, Mr. Herman managed to come up with the balance of his outstanding after being paid back by his friend. Mr. Herman is relieved now knowing that he has his finances under control. He is also more cautious with his money. “The debt I could not handle, it was like a dark financial cloud following me every day, now that cloud is gone.”

**Note: For purposes of confidentiality, the real identity of the people involved in these success stories are not disclosed.