- There is no maximum or minimum income.
- Contributions requested are based off your budget and what the Official Assignee considers reasonable in your case.
- Most bankrupts that we work with do not have to pay any contribution.
- If you do not agree with the requested contribution do not panic. The amount can usually be negotiated. A negotiation is usually possible for both New Zealand and overseas based bankrupts.
- If you do not pay, and do not contact the Official Assignee on time (directly or through us), you may be sued without notice, even if you live overseas. It is very important to not ignore the process.
- If you think that bankruptcy may be suitable for you we can provide you with an estimated contribution assessment as part of your decision making process.
- If you do have to pay a contribution, in most cases this will still be significantly less than the debt that you will "save" by becoming bankrupt.
- Contributions are usually payable for the period of the bankruptcy.
- Contributions are usually payable monthly, but different time periods can be negotiated.
- If your circumstances change during the bankruptcy, your contributions may change up or down.
All New Zealand bankrupts are assessed for contributions. Some key points: