The government has refused to comment on the extra $200,000,000 that it has received, above forecast, from the repayment of student loans. We have noticed that the IRD has been chasing student loan debts much more aggressively in the last few months. This has included debt collection agencies aggressively targeting debtors living in Australia and the UK, reversing years of interest rebates for overseas debtors, and the IRD demanding , out of the blue, that debtors come up with tens of thousands of dollars overnight when it has been quite happy to let the debt the build quietly over many years, to an enormous amount, with no advice to the debtor.
If you cannot guarantee that you can pay your student loan in full (either now or over a short, finite period of time) then you are not better off paying it in part. By paying it in part you will deprive yourself of money that you need and you will fail to prevent the mountain of debt growing out of control. By paying in part all that you are doing is delaying dealing with a nightmare that will never go away by itself. In addition, with student loan debtors likely to be liable for arrest, doing nothing to deal with your student loan debt is no longer an option. It is essential that, if you cannot pay, that you are either actively working with the IRD to find a solution or you are looking at the other alternatives. Please ask us if you have any queries. We are very experienced and can help at short notice.
If you cannot guarantee that you can pay your student loan in full (either now or over a short, finite period of time) then you are not better off paying it in part. By paying it in part you will deprive yourself of money that you need and you will fail to prevent the mountain of debt growing out of control. By paying in part all that you are doing is delaying dealing with a nightmare that will never go away by itself. In addition, with student loan debtors likely to be liable for arrest, doing nothing to deal with your student loan debt is no longer an option. It is essential that, if you cannot pay, that you are either actively working with the IRD to find a solution or you are looking at the other alternatives. Please ask us if you have any queries. We are very experienced and can help at short notice.