Debt Recovery and Enforcement - Community Law

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Credit
contract:
Hire
purchae,
loan
and
other
credit
Credit&det
Detrecoverand
enforcement
Tipforconumerdealingwith
det
Checktoeewhetherthedetilegall
enforceale.
eeaudgetadvier.
Guarantor
Trtore-negotiatepamentwiththe
Det
recover
and
enforcement
lenderothattheecanemanaged.
When
Checktoeewhetheranhelpiavailale
fromWorkandIncome.
Getlegaladviceaoutankruptc,theno
KWWSFRPPXQLW\ODZRUJQ]FRPPXQLW\ODZPDQXDOFKDSWHUFUHGLWDQGGHEWGHEWUHFRYHU\DQGHQIRUFHPHQWFKDSWHU

ou
can'tpa
our
det:
ankruptc
and
other
option
Other
reource
aetprocedureandummarintalment
order(eeWhenoucantpaourdet:
ankruptcandotheroptioninthi
chapter).
Whatiadet?
Adetiwhenouowemone.Anoverdue
detcouldincludenotonlwhereouhavent
madeourpamentforaperonalloanfroma
ankorloancompan,orahire-purchaedet,
utaloif,forexample,ouhaventpaidoneof
theupplierforouruineortrade.
Inthiituationthelawgenerallrefertoou
athedetor,andtheperonorcompanto
whomouowethemoneithecreditor.
WhatcanhappenifIdontpaadet?
Thecreditormaemploadetcollection
agenctorecoverthedet,ormaevenpa
onorellthedettoadetcollectionagenc,
whothenlegallecomethecreditorforthe
det.Alternativelthecreditorcantakeouto
courttorecoverthedetandthenuethe
differentenforcementmethodavailale
throughthecourt.
Thecreditormaalo:
reportthedet(eeCreditreportelow)
takeandellanpropertthatouveput
upaecuritforthedet,ifthecredit
contractallowthi(eeRepoeion
elow)
exercieanrightthehavetorecoverthe
amountofthedetfromanguarantoror

totakeandellanpropertthata
guarantorhaputupaecurit(ee
Guarantorinthichapter).
Diputingthatouoweadet
WhatcanIdoifIdiagreethatIowethe
mone?
Youhouldtellthecreditorordetcollection
agencaoonapoilethatoudiputethe
det,andgivereaon.Dothiinwriting,and
keepacopoftheletter.
Ifthedeti$15,000orle,oucantakea
claimtotheDiputeTriunal,whereouak
themtomakeanorderthatoudontowethe
diputedamount(eethechapterThe
DiputeTriunal).Claimetween$15,000
and$20,000canaloetakentotheTriunal,
ifothideagreetodealingwiththedipute
thiwa.
Alllendermuteregiteredafinancial
erviceproviderandememerofan
approveddipute-reolutioncheme.
Thereforeifthediputeddetoriginatewitha
lenderunderacreditcontract,oucan
complaintothedipute-reolutionchemethe
lenderelongto(eeCreditcontract:Hire
purchae,loanandothercredit/Otherlegal
protectionwhenougetcreditinthi
chapter).
Ifouimpldonothingthenoureleavingthe
creditortoringenforcementactionagaint
ou.
Ifoudiputethedet,thecreditorordet

collectionagencmadecideto:
negotiatewithouaoutthedet,or
takecourtactiontorecoverthedet(ee
Howdetarerecoveredthroughthe
courtelow).
Ifouneedhelp,getupportfromourlocal
udgetadviceervice(eeOtherreourceat
theendofthichapter).
Creditreport
CreditReportingPrivacCode2004
Howcreditreportingwork
PrivacAct1993,6,Principle6-8;CreditReporting
PrivacCode2004,claue6,rule6-11
Creditreportingagenciegatherandell
informationaoutindividualcredithitorie.
Theinformationthecanreportoninclude
ourcurrentcreditaccount(uchahirepurchaearrangementandloan,and
includingcreditlimitandourrepament
hitor),whetherouveeverfailedtomake
(defaultedon)ourrepament,ancourt
judgmentgivenagaintoufordet,andif
ouveevereendeclaredankrupt.
Peoplewhowillwanttoaccethiinformation
maincludelender,propectivelandlord,
emploerandinurer,utthirequireour
conentfirt.However,creditreporting
agenciegeneralldontneedourconentin
ordertodicloereporttodetcollector,
peopleinvolvedincourtproceedingagaint
ou,andcertaingovernmentagencie.

Creditreportingagenciemuttakereaonale
teptomakeuretheinformationthehold
aoutouiaccurate,up-to-date,complete,
relevant,andnotmileading.
Therealoatimelimitonhowlongthecan
continuetoreportonparticularthingafter
thehappen.Forexample,afteraankruptc
cometoanend(adichargefrom
ankruptc),creditreportercancontinueto
reportthiforfourear,utnolonger,and
themutnotkeeptheinformationaoutthe
ankruptcformorethanfiveearafterthe
dicharge.Theametimelimitapplafter
ouredichargedfromtheno-aetprocedure
(eeWhenoucantpaourdet:
ankruptcandotheroptioninthichapter).
Youhavetherighttoakforacopofour
creditreport.Ifanoftheinformationint
correct,oucanapplinwritingtothecredit
reporterforittoecorrected.
Gettingacopofourcreditrecord
PrivacAct1993,6Principle6,40;CreditReporting
PrivacCode2004,cl6Rule61,cl72
Threecreditreportingcompanieoperatein
NewZealand.Tocheckourrecordorto
correctaninformationoullneedtocontact
themall(eeOtherreourceattheendof
thichapter).
Acreditreportingcompanmutgiveoua
copofourreportwithin20workingda
afterouakforit.Thecantchargeoufor
thi,unleouakforthemtoprovideitwithin
fiveworkingda.Anfeethechargeforthi

kindofurgentrequetmutenomorethani
reaonale.
Note:InMarch2014thePrivacCommiioner
criticiedonecreditreportingcompan,Veda
Advantage,forchargingunreaonalefee(a
flatfeeof$51.95)forurgentrequetforcredit
report.TheCommiionerrecommendthat
oumakeourrequetearloitcanedealt
withwithinthetandardtimelimitof20
workingda,toavoidhavingtopaanunfair
andunlawfulextracot.
Detrecoveradet
collectionagenc
Whatactionwilladetcollectionagenc
takeagaintme?
Adetcollectionagencwillfirtendorgive
ouanoticeakingforthedettoepaidand
tellingouthatifitintpaidoullgetaad
creditratingandwilletakentocourttohave
thedetenforced.
Detcollectormutnotmileadordeceive
outatingthatouwilldefinitele
reponileforcourtcotandlegalfeeifthe
matteritakentocourt:whetheroullhaveto
pathoecotandfeewilleuptothecourt
todecide.
Canadetcollectionagenccharge
collectionfee?
Adetcollectionagenccanchargefeeover
andaovewhatouowe,utonlifouwere
toldaoutthoefeeatthetimethatou

oughtthehire-purchaegoodorgotthe
loan.Thefeemutereaonale.
Ifourenothappaoutthefeeouveeen
charged,oucanakthedetcollectorto
explainthem.Youcanalocomparethemto
whatotherdetcollectionagenciecharge.If
outhinkthefeearentreaonale,oucan
appltotheDiputeTriunalandakitto
reducethefee(eethechapterTheDipute
Triunal).
Howdetarerecoveredthrough
thecourt
DiputeTriunalAct1988,10,13;DitrictCourtAct
1947,29
Actioncanetakenagaintoutorecovera
detin:
theDiputeTriunalifthedeti$15,000
orle(oretween$15,000and$20,000if
othideagreetotakingtheiuetothe
DiputeTriunal),utonlifoudipute
thatouowethedet.TheTriunalcant
euedaameanofrecoveringdetthat
arentdiputed(eethechapterThe
DiputeTriunal)
theDitrictCourtifthedetinotmore
than$200,000
theHighCourtforadetofanamount.
However,ecaueofthehighercotof
goingtotheHighCourt,creditorwould
uuallonlringaclaiminthicourtifthe
detwaover$200,000.
DiputeTriunalAct1988,37

Note:IfacreditorringaclaimintheDitrict
Courtforadiputeddetthatunder$15,000,
oucanakthecourttotranferthecaeto
theDiputeTriunal.Youcandothifiling
anoticeofapplicationforthetranferatthe
DitrictCourt.
DetrecoverthroughtheDitrictCourt
Howacreditoreginaclaiminthe
DitrictCourt
DitrictCourtRule2014,Part5
DetcanerecoveredthroughtheDitrict
Courtfilingatatementofclaimwiththe
court.Thigivedetailofthecreditorclaim,
includingtheamountofthedetandhowit
cameaout.Thecreditoraloerveacopof
thetatementofclaimonou,thedetor.
Ifouwanttodiputethecreditorclaim,ou
have25workingdatofileatatementof
defenceinrepone,andtoerveacopon
thecreditor.
Ifoudontfileatatementofdefence,the
courtwillmakeanorderthatouowethe
mone,andthecreditorcanenforcetheorder
(eeelowHowcourtjudgmentare
enforced).
Note:InJul2014,theproceformakingand
defendingaclaimintheDitrictCourtwa
changed.Thepreviouprocedureinvolvinga
noticeofclaimandadefendantrepone
waaolihed.
Howtowriteatatementofdefence

DitrictCourtRule2014,rule5.50
Yourtatementofdefencemuteitheradmitor
denthefactallegedthecreditorintheir
tatementofclaim.
Thecourtruletatethatifoudenan
allegation,oumutanwertheutanceof
theallegationandnoteevaiveaoutit.For
example,ifthecreditorclaimoureceivedan
amountofmone,oucantimplden
receivingthatparticularamountinteadou
mutdenreceivingthatamountoranpartof
it,oroumuttatehowmuchoudidreceive.
Ifthetatementofclaimetoutparticular
circumtancerelevanttotheallegation,itnot
enoughforoutodenitaallegedwiththoe
particularcircumtance.Inallcaeouhave
togiveafairandutantialanwer.
Ifoudontdenaparticularallegationinour
tatementofdefence,ouretreatedahaving
admittedit.
Yourtatementofdefencemutgiveufficient
detailoftime,place,amount,nameof
people,legaldocument,andotherfactto
allowthecourtandthecreditortoknowwhat
ourdefencei.
xchangingdocumentandinformation
withthecreditor
DitrictCourtRule2014,rule8.4
Alongwiththeirtatementofclaimthecreditor
mutincludealitofallthedocumenttheve
referredtointhetatementofclaimandan
otherdocumenttheveuedwhenpreparing

theirtatementofclaimandthattheintendto
relonatthecourttrial.
Youcanthenakthecreditorforcopieofan
ofthedocumentinthelit,andthecreditor
hatogiveouthemwithinfiveworkingda.
Theameruleappltoouwhenoufileour
tatementofdefence:oumutprovidethe
creditorwithalitofrelevantdocument,and
thecreditorcanrequireoutoprovidecopie
ofthedocumentwithinfiveworkingda.
Whathappenafterthetatementof
claimanddefencehaveeenfiled?
DitrictCourtRule2014,Part7,10
Ifouintendtodiputetheclaimandhavefiled
atatementofdefence,thecaewillthengo
throughtheDitrictCourtcae-management
proce.Ifouandthecreditordontettlethe
diputeduringthecae-managementproce,
thecaewillgotoatrialeforeaDitrictCourt
judge.(Forinformationaoutcourtprocee,
eeOtherreourceattheendofthi
chapter.)
Timelimitforrecoveringdetthrough
thecourt
Whatithetimelimitforrecoveringa
det?
LimitationAct2010,11-14,47;LimitationAct1950,4,
23,25;PropertLawAct2007,9
Uuallacreditorhaonlixeartorecovera
det.Thitimelimittartaoonathedeti
owed,unleouacknowledgethedetorpa

partofit,inwhichcaethetimelimittart
fromthedateouacknowledgethedetorthe
dateofthelatpament.
Ifoulatmadeapamentefore2011:
Adetariingfromaimplecontractmut
erecoveredwithinixear,orinthecae
ofadetacknowledgedinadeed(for
example,ahirepurchaecontractmafulfil
therequirementofadeed)itmute
recoveredwithin12ear.(The
requirementofadeedareetoutin
ection9ofthePropertLawAct2007.)
Thetimelimittartfromwhenthedeti
owedunlethedetiacknowledgedori
paidinpart,inwhichcaethetimelimit
tartfromthedateofacknowledgement
orthedateofthelatpart-pament.
Ifoulatmadeapamentonorafter1
Januar2011(orifouwerentrequiredto
makeanpamentuntil2011),the
creditorgenerallhaveixearfrom
whenoutoppedpaing.
Howcourtjudgmentareenforced
Onceacreditorhaotainedjudgmentfrom
thecourtthatouoweadet,thecanappl
foranordertoenforcethejudgment.The
differentmethodofenforcementare
explainedelow.
Financialaementhearing
DitrictCourtAct1947,84D-84C
Afinancialaementhearingioftenueda
afirtteptoetalihadetorfinancial

circumtanceandwhethertherealetopa
thedet.Thecourtcanorderthedettoe
paidoffintalmentormakeanotherkindof
enforcementorder.(Anordertoattenda
financialaementhearinguedtoecalled
anorderforexamination.)
Youcanappltohaveourelfexaminedif
oureinadiputewithacreditoraoutour
ailittorepaadet.
Attachmentorder
DitrictCourtAct1947,79,84F-84M
Anattachmentorderrequireouremploerto
takemonedirectlfromouralarorwage
topathedettothecreditor.Theeorder
canaloemadeagaintourenefitorACC
pament.Anattachmentordercanemade
onceafinancialaementhearinghaeen
held,andincertainotherituation.
Warranttoeizepropert
DitrictCourtAct1947,79,85-94
Thecourtcaniueawarrantauthoriinga
courtailifftoenterpremietoeizemone
orgoodelongingtoou(otherthan
neceartooloftradeupto$500and
necearhoueholdfurnitureandeffect,
includingclothing,upto$2,000).Thegood
matheneoldtopaoffthedet.(Awarrant
toeizepropertuedtoecalledaditre
warrant.)
Chargingorder

DitrictCourtAct1947,79,96A
Achargingordercantopoufromellingthe
landorpropertthattheorderimadeover
untilthecreditorhatheopportunittoeize
orellthepropert(orthedetipaid).
Garniheeorder
DitrictCourtAct1947,79,96
Ifomeoneeleoweoumone(including,
forexample,ourankifouhavemoneina
ankaccount),thecourtcanmakeagarnihee
orderrequiringthethirdpart(forexample,the
ank)topathemonedirectltothecreditor.
Communitwork
DitrictCourtAct1947,84O
Ifthecourtiatifiedthatoucanpathe
detutareimplrefuingtodoo,itcan
orderoutodocommunitworkforupto200
hour.Thecourtcandothionceafinancial
aementhearinghaeenheld,andin
certainotherituation.However,inallcae
thecourtmuteatifiedthatallother
enforcementmethodareinappropriateor
havealreadeentriedunuccefull.
Repoeion
Note:Theretrictionthatappltolender
repoeinggooduedtoecontainedinthe
Credit(Repoeion)Act1997.InJune2015
thatActwarepealedanditproviionwere
moved,withomechange,intotheCredit
ContractandConumerFinanceAct2003(the
CCCFAct).

Overviewofretrictiononrepoeion
Thereareanumerofignificantretriction
onlendertakingpoeion(called
repoeion)ofhire-purchaegoodor
goodlitedaecuritunderaloancontract:
Goodcanonlerepoeedifthe
contractexplicitlallowthi(eeelow,
Whenlendercanrepoe).
Whenrepoeing,thelendermut
complwiththelenderreponiilit
principleintheCCCFAct(eeelow,
Lenderreponiilitprinciplefor
repoeion).
Therepoeionmutalocomplwith
thedetailedproceduralrequirementinthe
CCCFAct(eeelowTherepoeion
proce).
CreditContractandConumerFinanceAct2003,5
(definitionofrepoeion)
Note:Thelawuethetermrepoeionnot
jutforwhenhire-purchaegoodaretakenoff
ouutalowhenalendertakepoeionof
propertthatou(oraguarantor)haveputup
aecuritforthecredit.Inotherword,
repoeioniuedandtherepoeion
retrictionwillapplevenifthelendernever
previoulhadpoeionofthegood.
Whenlendercanrepoe
Whendoealenderhavearightto
repoepropertfromme?
CreditContractandConumerFinanceAct2003,
83D,83,83J,83R,83T(1)

Goodcanonlerepoeedfromouif
ourcreditcontractexplicitlallowthi.The
repoeionruleintheCreditContractand
ConumerFinanceActdontgivealenderan
repoeionrightthewouldntotherwie
havetheActmerelahowthelendercan
exercieanrepoeionrightthatareinthe
contract.
Aumingthecreditcontractdoeallow
repoeion,thelendercanrepoegood
onlif:
oudefaultwhichmeanoufailto
makeourpamentoroureachthe
contractinomeotherwa,or
thegoodareatrikwhichmeanthe
lenderhareaonalegroundtoelieve
thegoodhaveeen(orwille)detroed,
damagedorremoved.
83G(2)
Alenderalocantrepoepropertfromou
if:
therenotregiteredaafinancialervice
provider(alllendermuteregitered),or
ouvemadeawrittencomplaintaout
omeactionthelenderhatakento
enforcethecreditcontractandthe
complainthanteenreolvedet,orif
ouvemadeahardhipapplicationthatthe
lenderhantmadeadeciionaoutet
(eeCreditcontract:Hirepurchae,loan
andothercredit/Repaingtheloan/
Unforeeenhardhipinthichapter).

Yourpropertcanaloerepoeedifou
provideditaecurittoguaranteeomeone
eleloan,andtheorrowerhanteendoing
everthingtheirloancontractrequire(ee
Guarantorinthichapter).
(Forinformationaouthirepurchae(credit
ale)andaoutecuritforloanandother
credit,eeCreditcontract:Hirepurchae,
loanandothercreditinthichapter.)
83ZN;PeronalPropertecuritieAct1999,16(1)
Note:Therearecertaintpeofconumer
goodtoveandfridgeforexamplethat
canteuedaecuritforaloanandthat
thereforecanterepoeedifoumiour
pament(eeCreditcontract:Hire
purchae,loanandothercredit/Keterm
andconcept/Whatiaecuredloan?inthi
chapter).However,thatretrictiondoent
applwhenoneofthoeitemioughton
hirepurchaeandtheecuritipartoftheHP
arrangement,orifaankorotherlenderloan
oumonepecificallooucanutheitem
(thoetpeofecuritiearecalledpurchae
moneecuritinteret).
Lenderreponiilitprinciplefor
repoeion
Reaonaleandethicaltreatment
9C(2),(3)(d)
Duringanrepoeionproce,thelender
muttreatouandourpropertreaonal
andethicall(includingpropertthatoudont

ownutthatinourpoeion,likehirepurchaegood).Themuttakeallreaonale
teptomakeurethatnothingidamaged,
thatrepoeeditemareadequateltored
andprotected,andthatthedontenterour
homeinanunreaonalewa.
Lenderalohaveageneraldutwhenever
theredealingwithoutoexerciethecare,
diligenceandkillofareponilelender.
Therepoeionproce
CreditContractandConumerFinanceAct2003,Part
3A;87,88,89,94A
TheCreditContractandConumerFinance
Actetoutaprocethatthelenderand
repoeionagentmutfollowwhentaking
propertfromoutherearepecificrule
dealingwithwhathatohappenefore,during
andaftertherepoeion.
eforetherepoeion:Requirementfor
warningnotice
CreditContractandConumerFinanceAct2003,83G,
83H,83ZQ,99A,chedule3A
eforethecanrepoegoodfromouon
thegroundthatouvedefaultedunderour
contract,thelendermutendou(andan
guarantor)arepoeionwarningnotice,at
leat15daeforetherepoe(theeued
toecalledpre-poeionnotice).
Thewarningnoticemutincludearangeof
information,includingwhatthedefaulti(that
i,howmuchoureehindinourpament,
orinwhatotherwaourereachingthe

contract).Ifthedefaultcaneputrightfor
example,gettingourpamentuptodate
thenoticemutetatimelimitforoutodo
thi.Thattimemuteatleat15daafter
oureceivethenotice.Afterthattimethe
lendercanrepoethegood.
Thewarningnoticemutehand-deliveredto
ou,orleftatormailedtoourhomeorwork
oranotheraddreouvegiventhelenderfor
thipurpoe.Thenoticecantimple
emailedtoou.Thenoticecaneenttoour
lat-knownaddreifouvemovedand
haventtoldthelenderournewaddre.
Repoeionwarningnoticedonttavalid
indefinitel:theexpireafter60da,othatif
thelenderhantrepoeedwithinthattime
thellneedtoendouanotherwarning
noticegivingouatleatanother15da
eforethecanrepoe.
Ifouvereceivedawarningnotice,ouhave
theoptionofvoluntarildeliveringthegoodto
thelendertotheplacepecifiedinthenotice.
83G(2)
Note:Thelenderdoenthavetoendoua
warningnoticeeforerepoeinggoodif
thehavereaonalegroundtoelievethe
goodareatrikthati,thatthegoodhave
eenorwilledetroed,damagedor
removed.
Whenthegoodarerepoeed
83G,83N-83T

Ifoudontpawhatiowingorotherwie
remedthereachofthecreditcontractwithin
thetimepecifiedintherepoeionwarning
notice(whichmuteatleat15da),the
goodcanerepoeed.However,the
lenderortheiragentcanonlenterour
properttotakethegoodifthiiallowed
underthecreditcontractorifouallowthem
toenter.
Therepoeionmutecarriedoutina
reaonalewa,andthelender(andtheir
agent)mutcomplwiththefollowingpecific
requirement:
OnllicenedrepoeionagentToe
aletorepoegood,repoeion
agentmutelicenedunderthePrivate
ecuritPeronnelandPrivateInvetigator
Act2010,andtheiremploeeor
contractormutholdcertificateof
approvaliuedunderthatAct.Alender
cantauthoriearepoeionagentor
emploeetorepoeunletheagentor
emploeeilicenedorapproved.Lender
alocantrepoegoodperonall
unlethethemelvearealolicened
repoeionagentorapproved
repoeionemploee,andiftherenot,
themutuelicenedorapproved
individual.
TimeofrepoeionTherepoeion
canonlecarriedoutetween6amand
9pm,Mondatoaturda,andnoton
pulicholida(unleafteroudefaulted,
uteforetherepoeion,ouagreedin
writingtoithappeningoutidethoe

allowedtime).
IfourehomeatthetimeIfanoneiat
home,thelenderortheiragentmut
producethefollowingdocument:acop
oftherepoeionwarningnotice;acop
ofthecreditcontract;ifitanagent,
evidenceoftheirauthorittorepoethe
goodonthelenderehalf;acopof
theirrepoeionagentlicenceortheir
certificateofapprovaltoearepoeion
emploee;atatementthatthepremie
haveeenenteredandthedateofentr,
andalitofgoodtoetaken;anda
tatementofourrightafterrepoeion
andourrighttocomplainaoutthe
conductoftheperondoingthe
repoeing.
Ifoupawhatowingonthepot,oucan
topthegoodeingtakenawa.However,
oullalohavetopathereaonalecotof
therepoeion.
Ifno-onehomeIfno-oneathome,
andourcreditcontractallowthemto
enter,thelenderortherepoeionagent
canenterandtakethegood.However,
themutleaveanoticetatingthatthe
premiehaveeenenteredandlitingthe
goodtaken,andthemutaloleave
copieoftheotherdocumentlitedaove
(eeIfourehomeatthetimeaove).
Themutmakeurethedontleaveour
placeovioulopenwhentheleave.
LendercantholdcarkeetcThelender
(orarepoeionagencatheiragent)
cantholdkeorotheraccedevicefor

conumergoodthatareecuritundera
creditcontract(carkeforexample),
unleouvoluntarilgavethekeorthe
devicetothelenderoragentafterou
receivedarepoeionwarningnotice.
CreditContractandConumerFinanceAct
2003,83I;PeronalPropertecuritieAct
1999,125-131
Repoeingthingattachedtoother
itemTherearepecificrulethat
appltorepoeinggood(called
acceion)thatareintalledinor
attachedtootherconumergood
forexample,acartereoora
replacementcarengine.Intheecae
thelenderoragentmutremovethe
acceioninawathatcauetheleat
amountofdamagetotheitemit
attachedto(ourcarforintance)and
theleatinconveniencetoouathe
owneroftheotheritem.
Afterrepoeion:Requirementforpotrepoeionnotice
83V-83Y,83Z-83Z,99A,chedule3
Within14daaftertherepoeion,the
lendermutendouandanguarantora
econdnotice,calledapot-repoeion
notice,thatgiveou15datodooneofthe
followingthing:
Reintatethecontract,ringingour
pamentuptodate,paingothercotlike
repoeionandtoragecot,andputting

rightanotherreache.Thiputou
ackontheamefootingaeforeoufell
ehindinourpamentorotherwie
defaulted.Thegoodmutthene
returnedtoouandoucancarron
makingouruualpament.
ettlethecontract,completelpaing
offeverthingowedunderthecontractand
othercotuchatherepoeionand
toragecot.Thegoodmutthene
returnedtoou.Yourenowtheownerof
thegood,andthecreditcontractiover.
FindauerYoucanfindomeoneto
uthegoodatthelenderetimated
value,whichmuteetoutinthenotice.
Note:Audgetadviormaealetohelpou
decidewhichofthoethreeoptioniet(ee
Otherreourceattheendofthichapter).
Ifoudonttakeanactionwithinthe15da,
thelendermutofferthegoodforale.The
lendercantell,oroffertoell,thegood
eforethe15daareup.
Youcanreintateorettletheagreementat
antimeeforethelenderell,oragreeto
ell,thegood.
Ifthelenderdoentgiveouapotrepoeionnoticeafterrepoeing,the
cantellthegoodorexercieanoftheir
otherrightinrelationtothegood,andthe
alohavetoeartheirrepoeioncot.
Thegoodareold
CreditContractandConumerFinanceAct2003,83Z,
83ZF,83ZI,83ZM

Ifthelenderellthegood,themuttake
reaonalecaretootaintheetpricethat
reaonalotainaleatthetime.Allother
apectoftheale,includingthemethod,time
andplace,mutaloecommerciall
reaonale.
Thelendermutgiveouandanguarantor
reaonalenoticeeforethepropoedale.If
thealeitoeauctionortender,thenou,
thelenderandanguarantorareallentitledto
idorumittender.
Youcanforcethelendertoputthegoodup
forauctionifthegoodhaventeenold
within30workingdaaftereingrepoeed.
Withinevendaafterellingthegoodthe
lendermutgiveouandanguarantora
tatementofaccountthattellou:
howmuchthegoodoldfor
thelendercotinellingthegood
theamountouneededtopaatthetime
ofthealetoettlethecontract
whethertheremoneleftoverfromthe
alethatthelendermutpatoou,or
whetheroutillowemonetothelender.
Ifoutillowemonetothelenderoullhave
tonegotiatewiththemaouthowthiwille
paid.Thelendercantclaimanthingotherthan
whatleftowingaftertheale(thatmeanthe
lendercantclaimanongoinginteretor
cot).
Whatactioncanetakenagaintlender
whoreachtherepoeionrule?

Iftherepoeionproceintfollowed
properl,oucantakethelendertothe
DiputeTriunalortothecourt.Thecan
makearangeoforderagaintthelender,
including:orderingthemtopaou
compenationforpropertdamage,for
financiallo,orfortre,humiliationor
inconvenience;ororderingchangetothe
termofthecreditcontract.venifouhavent
eencauedanloordamage,thelenderor
theirrepoeionagentmahavetopaou
upto$6,000intatutordamagefor
reachingtherepoeionrule.
Ueofdialingdeviceongood
Retrictiononlenderuingcartarter
interrupterorotherdialingdevice
83M,83ZN(1)
omecreditcontractallowthelenderto
attachadialingdevicetogoodthatare
ujecttoaecuritinteretunderthe
contract,othatthelendercanthendiale
thegoodremoteliftheorrowergetehind
ontheirpamentforexample,atarter
interruptdevicewithaGPlocatorthat
attachedtoacaroughtonhirepurchae.
However,lendercantattachdialingdevice
tothefollowingtpeofgood:edand
edding;toveandothercookingequipment;
medicalequipment;portaleheater;wahing
machine;andfridge.
Retrictiononwhenlendercanactivate

dialingdevice
CreditContractandConumerFinanceAct2003,83L
Alendercantactivateadialingdeviceunle:
ouvereachedthecontractinawathat,
accordingtothecontractpecificterm,
iufficienttogivethelendertherightto
activatethedevice,and
thelenderhagivenoureaonale
advancenoticethatthewillactivatethe
device,andhatoldouwhatoucando
toavoidthi.
Nextection|Whenoucan'tpaourdet:ankruptc
andotheroption
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