Hundreds of expat Kiwis are declaring themselves bankrupt to escape crippling student loan debt
Hundreds of expat Kiwis are declaring themselves bankrupt to escape crippling student loan debt
29 October 2019
A Herald investigation found New Zealanders here and overseas are struggling to repay money borrowed since 1992.
Some New Zealanders living overseas owe as much as 400 thousand dollars, and fear being arrested at the border.
Inland Revenue Segment Manager Geoff Wintle says the department has taken bankruptcy proceedings against borrowers living in New Zealand, Australia and Britain.
The IRD has written off 827 loans from borrowers who went bankrupt last year.
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