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20 Apr 2024 12:24
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      Home > News > Business

    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


    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.

    © 2024 Newstalk ZB, NZCity

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