Debt collection: the basics

When you don’t pay for goods or services the creditor (person or company you owe money to) will probably chase you up to get the money back.

Even if you are sure you can pay the bill or keep up with payments it is worth checking what will happen if you can’t pay. The creditor may have included in the contract a right to repossess the goods if you stop paying.

Under the Credit Reporting Privacy Code you have the right to have your information recorded correctly. You can check your credit file for free.

Repossessions must follow an exact process and can only happen if the right to repossess has been written in your contract

– http://www.consumeraffairs.govt.nz/for-consumers/credit-and-debt-1/debt-collection-1