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Kiwi Debt - Let us help you reduce your debt

The majority of cases where people have got themselves into debt aren’t because they are reckless or careless, quite often it’s a case where circumstances have changed and the unexpected happens.

Perhaps you have been made redundant or you need to split finances due to divorce or you become ill. There are several life-changing events. In most cases, people will only contact us once they have tried to keep up their home loan and credit card repayments for too long, but then find themselves struggling to keep their heads above water.

Debt solutions

It becomes very stressful and you get to a point where you realize that you’re drowning and need to take drastic steps or face the chances of never getting out of the deep water as far as your financial demands go from creditors.

And because you still have the day to day expenses, it becomes more costly and so you make more debt by taking out more short-term loans to stay afloat. The repayments you are making are not really reducing the balance because of the interest and charges that are added on a daily basis.

The Kiwidebt debt management plan could be life-changing because it will put you back in control of your finances and you won’t need to borrow more money (it’s a proven fact that this gets you into more trouble) think about it, any interest and charges will be frozen which means your debt could be settled quickly and you only have one repayment worry about.

Plan of action for debt freedom

• The reduction and or freezing of interest;
• Rescheduling repayment terms;
• Having part of the debt written off;
• Even though creditors are not obliged by law to abide by any of the above, a lot of creditors are optimistic about the work KiwiDebt is doing to help families that are in financial difficulty.

The proposal is based on affordability and acceptance

Generally, creditors are asked to vote for the proposal, however, they will need a majority in order to pass at a creditors meeting. The verdict of the vote is given in the high court for consideration and ascent, though it is not done through the high court, the arrangement is directly with the creditors.

The formal proposal and application is sent to the creditors and the creditors will be required to once again place a vote. The debt counselling arrangement does, however, need to 100% acceptance by the creditor in order to be passed and accepted. Note the KiwiDebt does not do consolidation of debt, though we can discuss debt consolidation and bankruptcy with you.

Give us a call or email us, one of our friendly team members will guide you in the right direction.