If you are living overseas, a New Zealand bankruptcy may have no negative impact on you at all. Director Kristina Andersen said declaring bankruptcy in New Zealand was a drastic option, but could be the only solution for some people facing massive interest on their loans. Some people held astronomical debt in New Zealand. If they were based overseas and declared bankruptcy here, some assets could be protected. The Insolvency Service here will look at pursuing some overseas assets, but its going to be a lot more difficult for them. However, it is a grey area. The IRD says it will pursue any assets disclosed by bankrupts who owe it money. There were a number of agreements with other countries that could be used to do so - quote
Posted on: Sat, 01 Nov 2014 23:33:26 +0000
Trending Topics
Recently Viewed Topics
© 2015