The law can help if you've lent money and it's not being repaid, and you need it more than the friendship. Firstly, you will must have a loan contract, or written proof of the loan (emails, phone messages etc). The greater legitimate and detailed the loan contract, the greater your possibilities in court.

You can use the legal system if you have not had success in getting repaid and have lost patience, as long as there has been activity on the loan within six years. To be clear, underneath the brand brand New Zealand Limitations Act, loan providers have a period that is six-year reclaim a financial obligation when they are due from their debtor.

In the event that financial obligation is more than six years, generally speaking you can't use the debtor to court over it, unless:

• A court has purchased the debtor to spend, or


• The debtor has compensated a percentage regarding the financial obligation within the past six years, or


• The borrower admits written down they owe you the amount of money.

The six-year duration starts from the time the person lent the funds, or if they past produced part-payment.

Legal options

1. ?The Disputes Tribunal is fast, informal and cheap, and certainly will settle claims for approximately $30,000.


2. An area Court hears cases up to $350,000, it is high priced and time-consuming. If for example the loan is over the $30,000 restriction set by the Disputes Tribunal, it's wise to get advice that is legal.

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