short term. He has over $20K in Kiwisaver. Can he use this as collateral. Not at all knowledgeable about Kiwisaver.
pgta,
May 16, 4:47am
No he can't. Kiwisaver can only be used to buy a house you intend to live in.
If can only be withdrawn in cases of extreme hardship.
maclad,
May 16, 4:50am
Thanks my thoughts as well
bill1451,
May 16, 5:23am
tap mum and Dad aye.
maclad,
May 16, 5:39am
No B****y way, not this time.
mojo49,
May 16, 6:02am
"not this time" Says it all.
pisces47,
May 16, 5:23pm
if no bank will lend someone money then the risk is too high for anyone else. only lend what you are willing to loose
..pip..,
May 16, 6:05pm
Lose.
lythande1,
May 16, 6:11pm
Why does he, short term? Sounds like a bad budgeting issue.
maclad,
May 17, 2:13am
He needs to pay his tax, not a lot but money but he has not got right now, bad budgeting, perhaps no budgeting me thinks. He is a young, single Dad of two, whom he cares for, and as many young people do, these days, leaves things to work themselves out with no thought for the future and works about 30 hours a week. He can get money from a finance company but not at 25%, I find that excessive. I was just asking about collateral, that is all and tomorrow he will see his bank. He has a good credit rating and has borrowed before with no trouble, just too high an interest rate, just wondered if bank would need collateral, that is all. Nothing sinister.
lyingnun,
May 17, 2:16am
Can he not work out a payment plan with IRD?
golfdiver,
May 17, 2:37am
Is this the one with the substance abuse problem?
maclad,
May 17, 2:53am
did not know he could do that but will discuss with him
maclad,
May 17, 2:53am
What are you on about
jonnythecat,
May 17, 2:56am
The bank will not necessarily require collateral but the interest rate will reflect the risk to them.
maclad,
May 17, 3:00am
Thank you for that, helpful, I have never needed to borrow, apart from my mortgage, so do not really understand. Old school me, 25% just far too high.
golfdiver,
May 17, 3:02am
I thought I read you describing the nightmare one of yours had caused you a few months ago? If not , sorry.
maclad,
May 17, 3:05am
Perhaps, but not this one, he is a very good Dad to his kids and they always come first, your memory is probably good, probably better than mine.
golfdiver,
May 17, 3:07am
Ah yes, it was the daughter. Hope she is getting there.
sunnysue1,
May 17, 3:07am
The IRd will be the best way for him to go. especially if he makes contact with them before it is due. they will set a repayment plan in place and get him on track for the future. They really are there to be helpful and to ensure we all pay our fair whack. lol
articferrit,
May 17, 3:08am
Im pretty sure you cant borrow money to pay tax.
maclad,
May 17, 3:11am
I hope so too
maclad,
May 17, 3:12am
Thank you for that positivity I will let him know
fredes,
May 17, 3:34am
Spot two above of the most disgusting personal attacks ever seen on this MB. Hopefully they will be dealt with soon. . nods
ianab,
May 17, 5:42am
That's the first thing to try for sure. Get hold of them before the payments are late and you get penalties added. Hard to get out of those once they are tacked on your bill, but if you have set up a payment plan before then, then there shouldn't be any excessive penalty or other repercussions As long as you then stick to the plan and get the debt paid off. If you can't afford the time payments to the IRD, then an expensive loan is going to be even more of a problem.
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