settle credit card debt

Do you have high credit card outstanding debt balance?
Incurring high interest rate of 17.5% per annum, year after year?
Difficulty meeting your monthly minimum payment? Interested to take the stress out of your monthly repayments?
Need extra cash but credit card is nearing its credit limit?
Want to reduce interest charges on your outstanding debt balance?
Feeling stress out? Need credit card debt relief?

Now, you have an option to stop paying the high interest rate of 18% p.a. by restructuring your credit card debt into easy payment plans. With EASY PAYMENT PROGRAM (EZP), you can restructure your debt to lower your monthly payment and help you save on interest. This is another alternative to debt consolidation and is especially helpful for those whose card has high outstanding balance.

How it works?

  • Restructure customer’s existing credit card outstanding balance to “0% interest free” Easy Payment Program (EZP) up to 3 years monthly installment.
  • Facilitate the EZP approval and once approved, the company will make settlement of card outstanding balance.
  • Charge the restructuring amount to the card and convert to EZP (balance transfer), lowering your monthly payments and helping you save on the interest.

Why Should I Restructure My Credit Card?

  • Save on interest payment. Save up to 12% per annum when you lower your annual interest rate from 18% to 6%.
  • Reduce monthly commitment of up to 40% reduction.
  • Help you pay off your credit card debts to within 2 to 3 years
  • Choose to pay the minimum amount of the Easy Payment Plan. Pay as low as RM50 per month only (low monthly payment)
  • Credit repair. Improve your credit ratings to facilitate any bank related application in the future. Also, helps you to avoid getting blacklisted. Assist you in maintaining good CTOS or CCRIS record.
  • Save 6.5% interest before transaction
  • No more harrassment from bank(s) calling up asking for settlement of payment.
  • Accumulate more reward points (just like when you make payment via credit card at merchant outlets).
  • Need urgent cash? Restructuring your debt means that you now have available spending limit on your card. This money can be use for investment, starting business, paying off other urgent debts, emergency uses etc.

Savings on Interest and Debt Reduction

interest savings calculation

How much can I save if I restructure my credit card debt with the Easy Payment Program? We look at an example to answer the following question:

Assumptions:
Your card is still active
The outstanding balance is RM10,000
You only pay a minimum payment of 5% every month i.e. RM10,000 x 5% = RM500 a month.

Note: Out of the 5% you pay, 1.5% is the interest charge by the bank. Hence the amount that goes towards paying off the debt is only 3.5%. That is why it takes years to clear off credit card debts if you pay the minimum payment each time.

How much do I pay for interest under the Easy Payment Plan (EZP)?

Under this plan you do not pay any interest! With the 0% interest free Easy Payment Plan (EZP) you pay your outstanding balance over the installment period without any added interest. For example, if you choose 36 months installment plan, you pay RM10,000 ÷ 36 months = RM277.77 per month. Hence, you save RM500 – RM277.77 = RM222.23 or 44% every month.

If the Easy Payment Plan comes with zero interest, is there any cost incurred? Yes there is. Instead of interest, you need to incur a one time restructuring fee. Based on the “Restructuring Fee” table, the restructuring charge for 36 months is 22% of the total restructuring amount, in this case is RM10,000. Hence, the restructuring fee amount to RM10,000 x 22% = RM2,200.00 payable one time. It is important to note that this restructuring fee is smaller than the credit card interest rate charges (RM2,200 ÷ 36 months = RM61.11 per month) thus resulting in interest savings.

A real life example is found below:

Statement before debt restructure

credit card balance after restructure

Settlement of Debt Restructuring Fees

If I do not have cash to pay for the restructuring fees, is there any other way?

Yes, the payment can be made through the following ways:

  • cash
  • available balance in your card(s) that is being restructured.
  • any other credit card
  • combination of the above three methods

In the case where the restructuring fees is paid through credit card, we need to take into account the increase in monthly payment of RM2,200 ÷ 36 months = RM61.11 per month. This means the total monthly repayment commitment is RM61.11 + RM277.77 = RM338.88 per month that is still lower than RM500 (the minimum 5% payment if you choose not to restructure) providing some debt relief.

Easy Approval Zero Interest Easy Payment Plan

eliminate outstanding debt

  • Guaranteed 100% Approval
  • Instant approval. Processing time is only 30 minutes
  • No handling fees, no processing fees and no hidden charges
  • Does NOT require credit bureau CCRIS or CTOS check!

Act now to start saving interest (as credit card interest is calculated on a daily basis).

Application Criteria

Criteria for applying for the EZP debt reduction strategy.
Guaranteed approval provided your card is still active. Card “blocked” by the issuing bank is not eligible for restructuring.

We only provide service for the following areas:

  • Kuala Lumpur
  • Selangor
  • Johor Bahru