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Updates as at 30 December 2022. Subject to amendments and further information.


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Self-Help Debt Relief Guide


A debt relief plan is normally initiated by the borrower and evaluated by his or her lender. If you have difficulty in paying the monthly loan instalments, you may negotiate directly with your lender to restructure/reschedule the loan(s). For this purpose, you may submit a debt repayment proposal with instalments that suit your current repayment capacity for the lender’s consideration. Upon evaluating your debt repayment proposal, the lender may accept or reject the proposal, or negotiate with you for a higher payment amount.

Lenders may not immediately accept or reject your proposal. Nevertheless, lenders appreciate your sincerity to repay the debts and would be willing to work out a debt relief plan. Be ready to change your lifestyle as this debt relief plan requires determination, dedication and self-empowerment.

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The Process

As part of AKPK’s efforts to encourage borrowers to be in full control of their financial situations, this Self-Help Debt Relief Guide (SHDRG) aims to facilitate borrowers in communicating or negotiating directly with their lenders on debt repayment proposals.

Borrowers are advised to use SHDRG as a guide for their debt repayment proposals and to approach their lenders first before seeking assistance from any other parties. As a borrower, please ensure that you:

  • Received a written reply from the lender concerned on the repayment proposal.
  • Keep all correspondences, payment records and other documents related to the loan(s).

Steps for Self-Help Debt Relief Guide (SHDRG)

Here are the step-by-step guide for SHDRG which includes the suggested templates in support of your repayment proposals.


Step 1 Analyse Your Financial Situation

Prepare a monthly budget using Form A: Monthly Budget (Appendix 1). Take into account the expenses you pay on a quarterly, semi-annually or annual basis.

Be realistic with your monthly expenditures so that you have as much surplus income as possible to repay your debts.

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Step 2 List Your Total Outstanding Debts (for multiple lenders)

Prepare a Debt Repayment Proposal using Form B: Debt Repayment Proposal: Multiple Lenders (Appendix 2).
Calculate pro-rata payment to each lender based on the formula in Appendix 3: Formula for Pro-Rata Payment Appendix 3: Formula for Pro-Rata Payment.


Step 3 Work Out Your Income and Expenditure Budget

Prepare your debt repayment proposal letters:

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Step 4 Send Out Your Proposal Letter to Your Lender

Forward your proposal letter to your lender together with your:

  • Income Statement
  • EPF Statement
  • Income Tax Statement
  • Form A
  • Payment cheque (if possible).
  • Form B – for multiple lenders
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Step 5

Follow-up with your lender(s) after giving them some time to review and evaluate your proposal. Further negotiations with the lender(s) may be necessary.

Note: Sample templates and steps only act as a guide. Make necessary adjustments to reflect your debt situation.

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The world we live in is increasingly complex, especially for the youths, and they will eventually need to take charge of their future and finances. Financial education in the tertiary stage is for those between the ages of 18 to 25 currently pursuing post-secondary education. Providing them with the appropriate financial know-how at this point will build up their competence in dealing with future financial decisions. This module focuses on cash flow management, the importance of savings and setting up a budget, internet banking and other appropriate topics for university and college students.

Entering Workforce

This stage comprises those between the ages of 20 to 30, i.e. mainly those who are just starting out in life. Financial education is essential to this age group as they learn to be independent in most matters especially financial management. In their minds, a car is a want rather than a need, and normally sits at the top of their list of things to acquire. Our Entering Workforce module focuses on understanding the fundamentals of borrowing and the importance of borrowing productively to encourage positive net worth. Financial education at this stage is also aimed at inculcating the habit of managing debts wisely. The module also introduces the fundamentals of investments and the importance of insurance for a better tomorrow.

Starting and Raising a Family

The module for the next life stage is for those who are starting and raising a family. People in this category are approaching that time in their life when they will normally experience important and meaningful life’s milestones: marriage, children and a new home. Designed for those between 30 to 40 years of age, this module will focus on settling unproductive loans while reducing debt commitments as they prepare for retirement. Emphasis will again be placed on the importance of planning for and protecting against uncertainties by talking about the types of financial tools available. They will learn the various types of insurance policies and be able to decide on the best coverage based on their affordability for their precious family. Education will also be given on the appropriate investments that will provide passive income for a better tomorrow.


The transition from working to retiring involves many tough decisions regarding income and lifestyle needs and whether one plans to ease into retirement or otherwise, while considering factors such as wealth management, whether a pension is enjoyed, and EPF balances. These are big decisions with long-term impact on their financial well-being during retirement. To make the best choices, they require sufficient knowledge and intense awareness of how they want to live through their retirement years. Therefore, our pre-retirement module will prepare them for retirement by teaching them the proper use of their investments and review of their portfolio while servicing their insurance policies and settling unproductive debts to improve their net worth positively.

Post – Retirement

You have retired. How would you manage your money now? Considering that the average life expectancy in Malaysia has improved, it is more important now than ever to ensure that you have the financial resources to live a comfortable and happy lifestyle—particularly if you are looking forward to retiring with peace of mind. Taking care of your wealth and making it last are important at this stage. Financial literacy and education is a continuous life lesson that does not end at retirement. Now, more than ever, you need to manage your finances wisely and plan for the unexpected. Our post-retirement module is focused on those who are currently transitioning into retirement or are in the early stages of retirement.

Early Adulthood
Adult – Middle Adulthood