MANY would agree that we brush aside or hide from any assistance offered to help clear our debts.

Why? The last thing we would want anyone to know is that we actually have debt problems. We always think we'll be able to overcome the problem in due time.

If your debt is manageable and can be handled within your own means and timeframe, well and good. However, your circumstances may be bordering on the critical stage if you face the following predicaments:

- Your monthly take-home pay is insufficient to pay off your debts and/or current expenses;

- Your debts do not seem to decrease over time, even though you are making timely repayments;
- You are having to take personal loans to pay off liabilities;

- You live from pay cheque to pay cheque and have no personal savings should there be an emergency.

- You are only able to pay the minimum five per cent on credit card bills;

- You take cash advances from credit card to meet your expenses;

- You have debt collectors calling regularly;

- You are being served legal notice of demand.

Picture the following scenarios:

SCENARIO 1: Ali is a young and successful professional in his early 30s. He has a thriving career and has assumed a high lifestyle. He lives in a beautiful home, has two flashy cars (one of which is a Porsche), and of course, goes overseas for his holidays at least twice a year.

Large purchases are made by credit. His excessive credit card spending and growing liabilities had gone unnoticed until Ali realised that his debt to asset ratio had reached a risky level -- more than 50 per cent of his monthly cash outflow is just paying off debts.

SCENARIO 2: Schoolteacher Lee has always managed his finances very well and his family has been living comfortably within the resources available to them.

Unfortunately, at age 45, Lee was diagnosed with cancer, requiring ongoing medical costs with no clear picture of what the future holds.

SCENARIO 3: Ravi's monthly income is just sufficient for his family of five young children. The wife quit her job to give the children the attention they need at home.

Ravi was phased out and paid a seemingly large sum through VSS (voluntary separation scheme). Without a job, Ravi was using money from the payout and after a few months, it was depleted.

SCENARIO 4: Having just retired at 55, Justin thought it was a good move to take up the new multi-level marketing programme.

After all, he now had the capital from his EPF savings and it did not seem like a "get-rich-quick" scheme, rather more of a business venture.

And he thought why not, since he no longer draws an employment income. Justin pumped all of his savings into the company. Within six months, the company went bust.

SCENARIO 5: Sofia is a single parent who manages her household of three young children single-handedly on her average income. She pays for the house, car and expenses for her children's daily upkeep, without any assistance from her irresponsible ex-husband.

Life was just fine, not superbly but merely sufficient, when suddenly her only brother was declared bankrupt. As the guarantor to her brother's loan, she found herself having new liabilities beyond her capabilities.

The above scenarios are typical examples of why it is necessary to have a debt management programme.

AKPK's debt management programme is available for those who need assistance in regaining financial control.

Although AKPK does not provide loans or financing, the programme provides assistance in managing your debts with financial service providers regulated by Bank Negara Malaysia.

The conditions tied with this assistance are:

- you have a positive source of income after paying off expenses,

- your total debt is below RM2 million,

- you are not under advanced litigation process, and

- you are not declared a bankrupt.

A good programme would instil the correct expenditure behaviour so that the previous mistakes done, which have brought you to your current situation, do not repeat themselves.

You would eventually have a new financial temperament to ensure positive spending and payment habits.

On enrolment into the AKPK programme, you are required to give up your credit cards, change your lifestyle or budget and commit to making your payments promptly.

They seem like simple three steps but believe it or not, many of us do not have the discipline to deal with them. With this structured programme, you will be guided to maintain good discipline in handling your debts.

Other than debt management, AKPK also offers financial education on the responsible use of credit and basic money management skills.

Talks and briefings are given to government agencies, educational institutions and corporations AKPK also does road shows and exhibitions.

Look out for workshops and seminars that are held from time to time by AKPK on its vision to "Make Prudent Financial Management a Way of Life".

For individuals who require personal attention, one-to-one counselling and advice on financial management is provided, free of charge.

AKPK will assist in budgeting, money management and credit related issues, essential elements to learn to handle debts responsibly and in due course, take control of your financial future.

Remember, pride should not come in your way in becoming boss of your finances.

Getting help is not self-demeaning, but make sure the help you pursue is from professionals and not loan sharks.

AKPK could play a big role in your quest for a better financial future.

For further information, visit www.akpk.org.my or call toll free number 1-800-88-2575.