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Bankruptcy in NZ


djsle

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Please no moral high grounders. Been in OZ a year, the stuff has hit the fan & I may well have to go bankrupt in NZ, my wife has to have surgery, she has not yet got her visa and therefore we will have to pay a large proportion of her op' through her medical insurance, we are trying to save for this but it's difficult, so the question is, as a bankrupt can only have a limited amount of savings, how can anyone save for this eventuality? 

Can the NZ insolvency service access all your bank accounts here? In other words could my wife save for her op' seperately without it being taken?

 

Thank you.

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If your wife has accounts in her name only and is not cited in the bankruptcy then I doubt they can access her money. They can however do something if you suddenly move assets to avoid payments. 

Bankruptcy should be a last resort and you should examine all other options with the help of a debt support agency, preferably a free one!

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