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i have a credit card debt from new zealand from 4 years ago. i have lived in australia for over 4 years. the debt has grown to over $32,000, i am not in a position to repay it. the collection company e mailed me yesterday saying i have 7 days to repay it or contact them to make arrangements. i dont want to contact them as i have other debts over in nz related to a failed business venture that was personally guaranteed. total debts would be about $120,000 nzd, what advice would you give, should i declare bankruptcy in new zealand(i have no assets i lost everything in my business collapse also the credit cards were used to try and prop up the business). thanks for the advice
Optional Information: State/Territory: queensland Already Tried: nothing ican,t really afford legal advice
what advice would you give, should i declare bankruptcy in new zealand(i have no assets i lost everything in my business collapse also the credit cards were used to try and prop up the business). That sounds like your best option here. You should call ITS in New Zealand on 0508 467 658 and get the process started.If you're satisfied with the results of your question, then I'll ask you to please provide positive feedback so that I will get credit for the time spent on your question.
ok thanks that sounds fine,should i contact the debt collectors, and are there any ramifications for me here in australia eg will it affect my credit rating herein oz
No, it won't affect your credit rating in Australia. And ITS will contact your creditors, there is no need for you to do so.If you're satisfied with the results of your question, then I'll ask you to please provide positive feedback so that I will get credit for the time spent on your question.
Experience: I did my law degree at the University of Queensland
thanks alex, could u confirm who ITS is and also the phone number in nz, i tried to ring but couldn,t get thru
ITS is the Insolvency and Trustee Service. From Australia try this number to call them, 1800 446 765.If you're satisfied with the results of your question, then I'll ask you to please provide positive feedback so that I will get credit for the time spent on your question.