Recently some existing customers received a property law notice. They had falling well behind with their mortgage repayments when their income reduced substantially (self-employed building industry) after some of their post-earthquake projects were delayed.
They had never missed a beat with their repayments to us but really struggled with their mortgage and the bank sent them a property law notice. We assisted by paying the arrears, rates, insurance and the next few months of mortgage repayments. We then put them in touch with an excellent mortgage broker who helped them re-finance their mortgage at a very competitive rate. We basically saved their home. It took a lot of effort to get them sorted out and they were very happy with the outcome.
We cannot help in all situations but its definitely worth investigating all the options. If you are struggling with any NZ personal loan or business loan repayments then the best strategy is to seek assistance promptly when you first start to struggle. The longer you wait the bigger the mess and the smaller chance things can be resolved satisfactorily.