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News from the iCollect Blog

The Pros and Cons of Debt Consolidation

It’s easy to collect credit cards and buy on hire purchase. But along the way, you could find you have collected a whole mountain of debt. If you are also struggling to make the minimum repayments on time, the additional fees can mean your level of borrowing quickly escalates. A “debt consolidation loan” is one […]

Credit Records – The Good and the Bad

Your credit record may be more important than you think. Information about your history regarding credit, debt, and repayment is being updated all the time and could have a big impact on you. Bad credit ratings happen to people in all walks of life. Missing a few payments on the house, car, power or phone […]

Debtors – What Are Your Rights?

The highest percentage of credit card accounts that come past due occurs in the months after Christmas – 7.6 per cent of Kiwis pay their credit card bills late. By April, these debts could start being referred to debt collectors. If you owe money to a creditor and stop making payments, they can take action […]

Student Loan Debt Being Written Off

The average student loan balance is close to $21,000. Almost 731,800 people have a student loan. In the year to June 2016 40,695 borrowers repaid their loans in full. Course fees are the main cost – more than 90 per cent of students borrow in order to pay their fees. The second largest driver of […]

Debt Collectors Visit 350 People for Library Fines

You might think it’s just a forgotten library book, but with debt collectors visiting more than 300 Wellingtonians last year for outstanding library fines, that overdue book could put a mark on your credit history. Library and community spaces manager John Stears said the debt collectors were effective in making sure the debts were settled, eith...

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