It is common for people with New Zealand student loan debts, and who are living overseas, to overlook their obligations. The important thing to remember is that student loan debts don’t go away. If you don’t pay, the amount owed will increase dramatically and there will be consequences. If you have issues with your debt it is essential that you deal with it. If you can’t pay and you are unable to negotiate an acceptable arrangement you may wish to consider bankruptcy. Bankruptcy is a serious step with serious consequences but it may be the better option than doing nothing – in some circumstances.
If you need assistance with negotiating a debt repayment proposal, or advice on the pros and cons of bankruptcy, please contact us.