Chris The Lawyer : Hi and welcome. My first response will follow shortly. Please feel free to follow up if anything is not clear.
Chris The Lawyer : This could be an option, but the Official Assignee may ask you to make payments
Chris The Lawyer : From their site,The criteria for entry To enter a NAP you must;have a total amount of debt between $1,000 and $40,000 (excludes Student Loans, Court Fines and Criminal Reparations),have no realisable assets,have no ability to repay any amount towards your debts, andnever previously been in a NAP or been adjudicated bankrupt.A KiwiSaver account is a realisable asset The length of a NAPThe usual term for a NAP is one year although this can be extended by up to 25 working days by the Official Assignee in certain circumstances.
Chris The Lawyer : So the ability to pay something may be an issue. I suggest you ask anyway, and see if the OA will agree.
can they take my income?
Chris The Lawyer : Actually in my experience, the Official Assignee are pretty good to deal with and are realistic about this. If your income is modest they may not touch it, but I suspect they may ask, but I am sure it will be less than the creditors. Are your creditors still chasing you?
Chris The Lawyer : The reason I asked that is that the limitation period for debts is 6 years.
yes - Inland revenue have sent me a letter, saying they are taking x amount out of my bank. What would you suggest I do?
Chris The Lawyer : Are they your main creditor?
plus how long does my $59 give me to ask questions?
Chris The Lawyer : until we finish this session.
Chris The Lawyer : So what have IRD said they will claim each week?
Chris The Lawyer : and for how long?
Chris The Lawyer : tax is not covered by limitation periods sadly
they sent a letter asking for 20% of my monthly income, the debt is 18000, was 7000 when we first had all the trouble 5 eyars ago, its ,mainly fees.
my debts to live (no credit) is all but my income
Chris The Lawyer : You could try for a hardship application
i am so fed up with the noose around my neck, can I sit down with the bankruptcy people and have all the info laid out so there are no surprises before I make the decision? or am I better to negitiate with IRD and pay a minimal amount?
Chris The Lawyer : That would be a really good idea
Chris The Lawyer : Going to see the Official Assignee and discussing this in detail so they can give you some idea as to whether you qualify and what they would want in contributions
Chris The Lawyer : but at the same time contact IRD and see if you can ask for a hardship write off
ok - can I stop them helping themselves to my pay - they have sent a letter to my employer.
Chris The Lawyer : That is harder. If they have sent the deduction letter your employer must comply. So you will need to move fairly quickly
ok - I have tried to call the woman as soon as I got the letter, Ill call tomorrow and get the ball rolling.
I guess thats it for now, Ill go and see the bankruptcy people and deal with IRD.
Thanks for your advice. :)
Chris The Lawyer : Be strong, you will get through this
thanks - just a quick one, when reading back over your notes, the other debt once over 6 years is void?
Chris The Lawyer : Unenforcean
Chris The Lawyer : Unenforceable is the correct term but yes
ok cool, so IRD is the only concern! thats one bright light - thanks heaps :)
Chris The Lawyer : Death and taxes, the only certainties
ha ha typical!!
Chris The Lawyer : A sense of humour is essential to survive