Hi everyone, I have just read all the mail about this, and thought I would tell
you what it is like in NZ, from what I have seen with friends of mine, and what
I understand happens here in NZ.

When they filed for "B", they lost a lot. They were allowed the house, car
(worth $3,000), and $500 of tools, plus a few other sundry stuff. They had had
a business with thousands of dollars of tools, these were sold off to meet some
of the payments due. While bankrupt, not allowed to have a cheque account, or
credit card, or Hire Purchase, nothing that needs credit. Also not allowed to
run own business. Only way to earn money is to be employed by someone else.

This is definitely not an easy way out in NZ, you are left with the bare
minimum to live with. This is also for 3 years, and you have to apply to "come
out" of "B".

Personally, we have a lot of debt, but would never consider "B", we would lose
more than we are going to gain by keeping trying to pay it of. We are
struggling, most weeks, have to go to my parents for groc money, but we will
get there. BTW, our debt was due to problems with vehicles, something that was
out of our control, won't go into all the details here. What we owe isn't that
much compared to others, but we feel it, and are trying hard to get it paid off.

Just my 2 cents worth.

Jo in NZ

[Non-text portions of this message have been removed]