Terms & Conditions
1. Interpretation
For the purposes of these terms and conditions
- “Creditor” “Creditor/s” refers to a person/s or organisation to whom a debt is owed.
- “My NZ Debt”, refers to, but is not limited to, My NZ Debt Limited, its employees and agents.
- “I” “you” or “the customer” refers to the person who uses the services provided by My NZ Debt, including parties who have joint debts.
- “information” means all information about the customer or the customers debts provided to My NZ Debt upon registration or at any other time by the customer or by any third party in any format including on any of the following web sites: www.mynzdebt.com, www.mynzdebt.co.nz and www.mynzdebt.com.au.
- “payment” means any payment made by the customer or by any person on the customer’s behalf to My NZ Debt or to trust accounts managed by third parties on behalf of My NZ Debt for the purpose of My NZ Debt providing the Services.
- “Services” refers to the debt collection services provided by My NZ Debt.
2. Acceptance of terms and conditions
2.1. The terms and conditions are the terms on which My NZ Debt offers the customer access to the Services. In consideration of My NZ Debt providing the debt collection, you agree that the following terms and conditions apply and you acknowledge and agree that they are fair and reasonable. By registering and making any payments you accept these terms and conditions.
2.2. These terms and conditions may be amended in whole or in part by My NZ Debt from time to time. Your continued use of the Services represents your agreement to be bound by the terms and conditions as amended. The current and latest version of the terms and conditions will be that version on My NZ Debt’s website: www.mynzdebt.co.nz. It is your responsibility to regularly check the terms and conditions for any updates.
3. You expressly understand and agree that:
3.1. Payments to My NZ Debt
a) I agree that My NZ Debt may hold all payments in its trust accounts until My NZ Debt has negotiated settlement with all creditors and paid the settlement amounts.
b) Until I have made payments equivalent to the full face value of a particular debt and that debt has been settled by My NZ Debt or a settlement offer accepted by a creditor I am entitled to give My NZ Debt written notice that I wish to cancel the Services and request repayment in full of amounts paid to My NZ Debt and My NZ Debt will refund such amounts.
c) Following payment of the full face value and settlement of a debt or debtsI may apply in writing for a refund if I believe I have made overpayments in excess of the full face value of the debt or debts and My NZ Debt will refund such overpayments if it finds that any amounts are properly due.
d) I will not receive any interest or any other such increase in value of any payment while payment is held on account in any circumstances.
e) My NZ Debt retains the sole right to decide which creditor/s and which debt/s are to be paid at any particular time. Payment to any creditor or to any debt is made by My NZ Debt at their full discretion.
f) I authorise and give permission to My NZ Debt to:
(i) negotiate a settlement with all or any of my creditors to settle in full any and all debts for an amount less than face value; and/or
(ii) negotiate and receive a commission or fees from my creditor/s in consideration of the collection and settlement of my debts; and / or
(iii) retain as its fee any difference between the face value amount of any debt and the amount for which the debt is settled in full with any creditor with no requirement to disclose to me the amount of any retention.
3.2. Bankruptcy/Non-Asset Procedure/Liquidation /Statue of Limitations
a) I agree that I will notify My NZ Debt in writing immediately if I am bankrupted, put into liquidation or become subject to No-Asset Procedure administration. Unless the customer or the official assignee notifies My NZ Debt of such an event, My NZ Debt has no obligation to the customer or any third party to make enquiries or consider the customers solvency or the status of any payments made.
b) In such an event, My NZ Debt will assume the customer will continue to make payments towards debts and / or My NZ Debt may continue to negotiate and settle existing debts from payments already made unless advised otherwise.
c) Payments made by the customer to My NZ Debt or its trust accounts prior to expiry of any statutory time limits for debt recovery may be held and used in settlement of any debts to any creditors by My NZ Debt at any time after a limitation period expires.
3.3. Abandonment or Cancellation of My NZ Debt Service
a) I agree that I will keep my contact details provided to My NZ Debt up to date so that I can be contacted at any time.
b) If I wish to cancel the use of My NZ Debt Service I will give notice in writing.
c) I agree that if I stop payment to My NZ Debt for one year or longer and if I have made no contact with My NZ Debt within such period, My NZ Debt will take reasonable steps to contact me for the purposes of ascertaining whether I wish to retain My NZ Debt services.
d) If My NZ Debt cannot contact me, or if I advise that I no longer wish to retain My NZ Debt services the Services will be deemed cancelled by me.
e) Upon cancellation for any reason all payments made prior to cancellation but not paid or due to be paid to creditors will be refunded to me in full on written application to My NZ Debt. If My NZ Debt has made reasonable enquiries to contact me and I do not apply for refund or otherwise claim payments within one year following cancellation the money shall be retained by My NZ Debt.
3.4. Creditor/s and Debt/s
a) I understand that all of my debts will remain in my name and that they will not be assigned to My NZ Debt, unless an agreement is made with My NZ Debt to the contrary. Further, I will remain liable for all debts until I have satisfied them in full or until My NZ Debt has made payment in full settlement with the creditors on my behalf.
b) I also understand that I may not be released from my obligations to any creditor until that creditor has released me. This may include, but is not limited, to any securities registered under the Personal Property Securities Act 1999 (and any subsequent legislation) or any guarantee of which I am a guarantor. My NZ Debt will not be liable for obtaining any release of security for me and this will by my own responsibility and cost.
c) I also understand that by registering with My NZ Debt, I am not exempt from any Court proceedings or being pursued for any debt I owe prior to the debt being fully settled on terms acceptable to the creditors.
3.5. Communications
a) I hereby provide my consent for My NZ Debt to contact me by electronic message to the email address provided by me at the time of my registration and I will update My NZ Debt immediately of any change to my email address.
b) I will ensure there is sufficient space in my inbox to receive all emails and that I will check my email regularly when possible. I understand that regularly means two to three times a week.
4. Privacy Waiver and Personal Information
4.1. Pursuant to the Privacy Act 1993
a) I hereby authorise My NZ Debt to obtain and retain my personal information from third parties and to supply information to third parties for the purposes of providing the Services on these terms and conditions.
b) I agree that this includes My NZ Debt obtaining credit reports and information from credit reporting agencies and possible creditors.
5. Statement of Disclaimer
5.1. My NZ Debt has not audited or reviewed the information provided by the customer and therefore My NZ Debt does not accept any responsibility for the accuracy of the information which the customer has given.
6. Electronic signature
6.1. By agreeing to these terms and conditions you agree this constitutes your electronic signature.
7. Governing Law
7.1. These terms and conditions are governed by the laws of New Zealand.