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The No Asset Procedure (NAP) and your assets

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You can’t enter a NAP if you have realisable assets – things that can be sold to help repay your debt.

While you’re in the NAP, you can keep:

  • Tools needed for your work (up to a certain value)
  • Necessary household furniture and effects (up to a certain value)
  • Motor vehicle worth up to $5,000
  • In most cases you will be able to keep your KiwiSaver funds.

You must tell the Official Assignee about all your assets.

If you are applying for a NAP and have a KiwiSaver account or superannuation policy you may be asked to provide a letter from your provider confirming that no funds are available to you under their hardship provisions. It is expected that you will take a contributions holiday and not make any payments into your KiwiSaver or superannuation fund while you are in the NAP.

Note | Superannuation funds are considered assets | Learn more.



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