In addition, student loan borrowers do not have the protection that other kinds of borrowers get as student loans are not credit contracts.
The government can change the terms of your loan contract without your consent or knowledge. They can do so because the Student Loan Scheme Act 2011 overrides the terms of the contract that you thought you entered in to.
The IRD has the legal right to enforce the student loan contract even though you had nothing to do with them when you took the loan out. They can also choose to recall your debt, fully or partially.
The law is unfair to student loan borrowers. Despite this, there are definitely solutions available if you are in trouble with your student loan debt, or you just want to see what your options are. Please contact us if you need advice on your situation and options.