Bank of NZ debt in UK

[Unitedman81]

1. Hi just looking for some guidance. To set the scene I'm a UK citizen resident and working in NZ until July last year. I took out a 12000 NZ dollar bank loan out with Bank of New Zealand, I and was making repayments initially...
   

I returned to the UK with my wife and daughter due to a family bereavement and we will be staying here for the next few years. Due to difficulties finding work initially and funeral costs etc I am unable to pay the debt and it has now been referred to EC Credit Control new Zealand. They contacted me yesterday asking me to call them. It seems they still think I am in New Zealand I have not responded. I really am unsure if I will ever be able to repay the bank of new Zealand.

I have a few queries re collection. How can they find out I am no longer resident in NZ and live in the UK? if they find this out can they persue me here? EC does has a UK branch...What are their nest steps if I don't get back to them. I realise I am likely to be blacklisted in N.Z...can they do the same in the UK will that effect getting a mortgage etc. Also what happens if I return to N.Z to live will I be saddled with debt unable to get a mortgage there etc...could it effect my residency status..Will they just go away...wishful thinking perhaps

 

 

You will appreciate I am not the most financially savvy soul so any simple advice guidance is appreciated.

 

 

Cheers

 

 

Jon

[unclebulgaria67]

They can enforce the debt in the UK, if they found you, but each country has separate credit records/Data Protection laws, so the NZ debt won't be reported in the UK. It is only if they managed to get the debt transfered to a UK court, that it could be reported in the UK. What will happen I expect is that someone sat in an office in NZ will be reviewing their records, realise you are not responding and then come to the realisation that you have left the country. Because you were from the UK, they will do a search for you on UK records databases and if you have anything with your name/address showing, they will eventually write to you.

 

With a debt of that amount, I am pretty sure the NZ bank will secure a court judgement in NZ, using your last known address. So if you went back, it wlll be on your record and could affect anything where checks are made. e.g bank accounts, mortgages, loans, house renting, jobs, residential status I believe New Zealand is the same as the UK, with such records being kept for 6 years from the date of default or court judgement.

 

If you are wanting to return to NZ, you would be wise to come to an affordable payment arrangement if you can and keep to it. I see NZ has Citizen Advice Bureaus who can offer advice online. You would be wise to get specific debt advice from someone qualified in NZ.

 

ww.cab.org.nz/Pages/home.aspx

[Unitedman81]

Ok thank you that's great advice..would/could they they check the electoral roll?

[unclebulgaria67]

Ok thank you that's great advice..would/could they they check the electoral roll?

 

Yes they could. I suspect that they buy a copy on a regular basis, given the number of people who move between NZUK.