Tue, 21 Aug 2012 7:00p.m.
What would you do if you had to choose between eating and paying back a loan?
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6/09/2012 10:38:53 a.m.
I work in debt counselling - we are a charity that specialise in getting people debt free. This company are dispicable, I'v dealt with them before, and they had no right to do with at they did.
2/09/2012 10:44:29 a.m.
Welcome to our future, Banks run the world for the Elite who want you as serf forever, well until you find another use for that pitchfork.
23/08/2012 12:48:03 p.m.
Joanne Kearney wrote:
Mike's comments above about bankruptcy are wrong. You do not get "cleaned out" of all your assets. Bankruptcy is administered by the Offical Assignee, an office which part of the Ministry of Business, Innovation and Employment.You are allowed to keep necessary tools of tradenecessary household furniture and effectsa motor vehicle (to a maximum $NZ5,000 value)and money up to a maximum of $NZ1,000The OA would never ever send a "repo agent" to come and seize all a family's modest household effects.This story was about the actions of a private finance company. From the facts discussed in the story it appears likely that this company's conduct was legally questionable and probably oppressive. For more information see http://www.consumeraffairs.govt.nz/for-consumers/credit-and-debt-1/before-you-borrow-money-1/security and http://www.insolvency.govt.nz/cms/personal-insolvency/my-assets-bankruptcy
23/08/2012 12:11:34 a.m.
Now its like over 20 years since I did some law courses at university, and I'm no lawyer, but it seams everyone doesn't understand bankruptcy and thinks just chosing bankruptcy magically makes all debt vanish with no drawbacks.When you chose bankruptcy, its basically cleans you out, and they will sieze/reposses assets to recoup the losses.In this case they went around to do exactly that, and Kevin didn't want the assets siezed, hence a new agreement was made basically setting the bankruptcy aside to avoid the siezing of assets. It would probably have been better to have let them sieze the stuff than what actually was done.If your going to do anything like bankruptcy, best get some legal advice first - even the citizens advice is better than nothing (although their advice may be to get a lawyer).
22/08/2012 7:35:35 p.m.
Once the poor bugga went bankrupt that should of been it,no more payments and the finance company should have been dealing with the official assignee, who's job it is to deal with these low life,scum bags.
It's a shame he has lost all at his age, and they still want the chair he sits in too.
22/08/2012 9:06:35 a.m.
Russell Emerson wrote:
I think this case highlights the lack of education the government give ordinary school leavers. We just simply do not know ANY of our rights, simple law, banking skills, tax returns, etc etc etc... I witnessed last time i was back in NZ, when i went to my nieces school they are still making things like animals made from vegetables!! I mean come on! Key and you lazy teachers,(who obviously most of them take the job for the holidays!) how about teaching us skills we use and then maybe sad cases like this travesty wont happen so often..
22/08/2012 7:44:20 a.m.
Seems like a dodgy company he was dealing with not the first time they have been in the news http://www.goodreturns.co.nz/article/976497059/hawkins-budget-loans-pleads-guilty-to-misleading-investors.html
22/08/2012 6:14:53 a.m.
Poor guy. This greedy company has taken years of his life.
Budget loans needs to be made an example of and pay a fair share of that money back.
21/08/2012 9:31:36 p.m.
My advice to any one who has a Mortgage on their property and is thinking of borrowing money for a car or anything is to take out a top up loan on your mortgage instead of going to a finance company. 3 years ago I borrowed $10,000 for a new car the interest rate was the same as the current floating rate so about 5.6%. I have paid that off now and earlier this year I had to borrow money to replace a hot water cylinder so took out a new loan. So much better taking out a loan from the bank.
21/08/2012 9:21:17 p.m.
Gail FitzGerald wrote:
Unfortunately there are many people have never been taught how to budget properly and it's not entirely their fault. In the lower socio group people are naive and too trusting about vicious loan companies trapping people in the debt that they don't understand, which is why so many people keep getting sucked into Nigerian scams and they are the really obvious ones. I really feel for this man and his family. Wayne Hawkins is absolutely a vulture as Kevin's boss stated. He should hang his head in shame and repay everything after Kevin was declared bankrupt. Glad TV3 is out there to expose these low-lifes.
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