Population: 4,035,461

Economy Overview:

Over the past 20 years the government has transformed New Zealand from an agrarian economy dependent on concessionary British market access to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes (but left behind many at the bottom of the ladder), broadened and deepened the technological capabilities of the industrial sector, and contained inflationary pressures. Per capita income has risen for six consecutive years and is now more than $23,000 in purchasing power parity terms. New Zealand is heavily dependent on trade - particularly in agricultural products - to drive growth. Exports are equal to about 20% of GDP. Thus far the economy has been resilient, and the Labor Government promises that expenditures on health, education, and pensions will increase proportionately to output.

General Business Practices.

a). The main language is English and this is used in all court proceedings.
b). New Zealand operates under a metric currency, with the dollar and cent being the primary currency unit.
c). Assignments forwarded should ensure that correspondence is in the English language. Any supportive documentation in another language should be translated into English with such translation sworn before a Notary Public.

Collections.

A. Background of Industry.

1. It is hard to place an estimate on total collection work done in New Zealand.
2. Debt collection is handled by both collection agencies and lawyers, referred to as solicitors. Attendance at court to handle a case before the court is usually conducted by a solicitor.
Debt collection work on both consumer and commercial debts is more commonly carried out by collection agencies.

B. Licensing Requirements.

A License or bond is not required to operate a debt collection agency in New Zealand, therefore it is recommended that you operate and deal with an established and recognised agency, which operates a proper trust account.

C. General Procedures.

1. Collections agencies usually tailor their operating methods to suit the needs of the client, the amount of debt, and the remoteness of the debtor.
Upon receipt of the assignment, the agent will undertake preliminary analysis and appropriate action for speedy recovery of the outstanding debt. The common collection methods used include : - telephone contact, demand letter(s), personal visits to the work or home address of the debtor to undertake interview and ascertain income and assets details.
When a lump sum or payment schedule offer is made, the agency will have an arrangement with the client to authorise acceptance or rejection of the offer.. Where large amounts are involved the agency will liaise on a regular basis with the client. If contact can not be made with the debtor on the telephone, or there is no response to the letters sent, a field agent may visit the address to confirm the debtor residence. In the event that the debt can not be settled amicably, the agency would issue proceedings usually through a solicitor with which the agency has developed a close working relationship. Dependent on the agency's manner of conducting business, many will maintain a close working control of the file, and conduct the process of issuing the summons, obtaining judgment and enacting the enforcement procedures and the solicitor will only become involved in the event that a defense is lodged to the originating summons/writ/claim.
This is the case with ICMS CreditSystems Limited which has its own in house associated legal practice operated as A.J.H. Witten-Hannah, Barristers & Solicitors
Reports to clients on file status and balances are made in accordance with the clients requests.
Payment meth