Auckland - business, culture and commerce

Category Archives: Bankruptcy lawyer

Auckland bankruptcy lawyer

Bankruptcy Lawyer – All You Need To Know About Your Debts and Harassing Creditors

Auckland bankruptcy lawyerAlmost any person who falls behind in payment of their bills will, at some point or another, receive a call from a creditor.  In some instances these calls may be friendly, but more often than not they are very unfriendly.  While laws have been put in place to protect people from harassing calls at work or at home, these regulations are not always considered by debt collectors.  In fact, they are very willing to browbeat, threaten, and take unpleasant courses of action to collect the money owed.  Worryingly, there are individuals who believe their methods are viable – obviously, these individuals have not been on the receiving end.

In order to avoid these harassing calls and demands, many consumers will cave-in to the outrageous requests believing that the threatening calls will end; however, this is not always the case.  In fact, if one creditor is contacting you the chances are that another will soon make contact.  When a person files for bankruptcy, it is unlikely that one will receive any harassing calls to the home; however, it may take a period of time before creditors are made aware of the action and some contact may be made during the time before they have been notified.  Of course, if they continue to contact you after being notified of personal bankruptcy it is possible to hold the creditor legally accountable.

In order to provide evidence of paying debt or filing for personal bankruptcy, it is essential that the debtor (that’s you) maintain relevant documentation.  By relevant documentation we are referring to the information associated with the payment or bankruptcy.  Furthermore, it is advisable that the debtor maintain a record of names, dates and times of creditor calls received after the creditor is notified of personal bankruptcy.  If this occurs, it is necessary to contact an attorney with the information and allow them to deal with the creditor via the appropriate legal channels.

When considering the option of bankruptcy, it is important to take various issues into account while you research this drastic step.  There are different degrees of bankruptcy in New Zealand – click the link for more information.

The different types of insolvency have different outcomes and can apply to a range of levels of debt. For example, No Asset Procedure is an alternative to bankruptcy for those with debts between $1000 and $47,000.

Auckland bankruptcy lawyerAlthough creditor bankruptcy may seem a viable solution if you are looking to avoid paying current debt, it is not recommended that you choose this option unless you have no other choice available.  If you choose to declare creditor bankruptcy this will be placed on your financial record and it may be difficult to rebuild a positive credit score; therefore, bankruptcy should always be considered a last resort.

Before making a decision, you should talk to a bankruptcy lawyer who will be able to explain the implications of any decision. They may even be able to help you negotiate your debts with your creditors.

For an Auckland bankruptcy lawyer who can help, contact McVeagh Fleming.

Copyright © 2024 Auckland – business, culture and commerce