Can I file for bankruptcy or a NAP online?

What you need to know

From our website select Online Services, which will take you through to a welcome page. You need to be a registered user of the system in order to file an application for bankruptcy or for admission to a No Asset Procedure (NAP) or a Summary Instalment Order (SIO). You can file an application for bankruptcy or for entry to a NAP or a SIO in New Zealand while you are living overseas.

If you have previously registered then you should Logon at this point. Otherwise click on Get User ID and follow the steps to register. You will need an email address to proceed but it is free to register.

Once you are logged on, select Insolvency Wizard and then start working your way through the screens. The Insolvency Wizard will ask you a number of questions concerning your personal circumstances, such as your address and income details, lists of your assets and who you owe money to. The amount of time it will take to complete the Insolvency Wizard will depend largely on how complex your affairs are, but this can take anywhere between 1 to 2 hours.

Once you have completed the Insolvency Wizard, it will calculate what options are available to you. For example, if you owe more than $40,000 you will not have the option of entering a NAP. You can then decide whether or not you wish to proceed with an application.

As you work through the questions, the Insolvency Wizard will save your answers at the end of each page. You can choose to exit at any time and come back and complete the Insolvency Wizard at a later stage if you wish. You may also choose not to proceed at all. Any specific data that you provide will only be used if you choose to proceed with an application. Otherwise, it will be deleted by the Insolvency Wizard automatically after 3 months

The questions that you have answered will also form the basis of your Statement of Affairs (SOA), which is an official document that you must complete prior to filing an application. If you choose to proceed, you will be given the option to print out the SOA for signing as the final step in your application.

At any stage up until your application is formally accepted, if you change your mind and decide you no longer want to make an application, you can contact us on 0508 467 658 to withdraw your application, or log in and follow the steps from the Application History screen.

Note

The Official Assignee can only assess one application for you at a time, so please ensure only one application (No Asset Procedure, Bankruptcy or Summary Instalment Order) is completed and sent to the Insolvency and Trustee Service.

The information you need to collect before beginning

You may complete Insolvency and Trustee applications, forms and statement of affairs on line, or in person with telephone assistance from ITS.  Before you begin, it is suggested that you gather together all relevant documentation. We have provided for your guidance a list of information that you may find necessary to have at hand when completing a form or statement of affairs:

Personal details

• Full name and list of any other names used in the last 10 years or commonly known by
• Your address, the date you moved into this address, and if less than 2 years ago, your previous addresses
• Whether you own or rent (amount paid per week) and person to whom payment is made
• Passport number and country of issue
• Firearms licence details
• IRD number, period of last tax return
• Employment details
  
• Income – type, amount, and name and address of person providing income – a payslip must be included
• Spouse’s details – their name, occupation, and income
• Dependant’s details
• Court fine details – monthly payments
• Reparation order details – monthly payments
• Child support details – monthly payments and details of arrears
• Weekly or monthly budget

Background to insolvency

• Previous bankruptcies, No Asset Procedures or Summary Instalment orders - dates and numbers
• Reasons for insolvency
• Details of steps taken to resolve financial problems
• Solicitor’s and accountant’s details (past and present)
• Property which has been repossessed or seized
• Property given away in the last two (2) years
• Property given to you by other people
• Money or property owed to you
• Payments made to creditors in the last month
• Details of finance (loans and debts) raised in the last one (1) year
• Betting and gambling in the last one (1) year
• Current court cases you are involved with – nature of case, name of other party, solicitor(s) involved
• Relationship property settlements in the last five (5) years

Financial circumstances

• Bank, building society, credit union and TAB accounts, and overseas funds – Name of account, bank and branch, account type, current balance
• Inflation and bonus bonds, unit trusts and public company shares – Name of company, number of shares, location of share certificate or FIN number, approximate value
  
• Life insurance policies – Name of insured, policy number, insurance company, date paid up to, surrender value
• Superannuation funds – Name of fund, address of holder, policy number, date commenced, estimated value
• Trusts of which you are a trustee, settlor or beneficiary – Name of trust, trustee’s names and addresses – Personal assets
• transferred to the trust – copy of the trust deeds are required
• Beneficiary of other trusts – date and value of benefit received
• Securities held – Type, name and address of property owner, value, description of property secured
• Deceased estate interests – Name of deceased and relationship, value of interest, name and address of executor
• Personal belongings and household effects – Description, location, value
• Real estate – Address, interest, mortgagee, market value, mortgage outstanding – whether insured, Joint Family Home, on market or rented out
• Asset disposals in the last two (2) years – Description of asset, amount received, where money went, name and address of agent involved
• Motor vehicles – Type, registration, make, model, year, location, registered owner, insurer, insured value, condition, odometer, estimated value, HPs and/or securities
• Other assets – Description, cost, approximate value
• Secured and HP debts – Creditor, address, type of security, description of goods, present value, amount owed
• Student loans – Reference number, tertiary qualification funded
• Credit cards – Name of lender, amount owed
• Other debts – Creditor, address, date incurred, goods received, amount owed

Business details

• Trading or company name – physical and postal address, phone and fax numbers
• Premises – Landlord, lease details, rent paid to, amount paid, arrears, lease agreement.
• Nature of business – date started, date ceased, uncompleted contracts
• Partnerships – partner’s names, addresses, phone numbers
• GST registration
• Accountant
• Location of records
• Business assets – Bank accounts, plant and equipment, stock – Motor vehicles
• Book debts – Name, address, goods/services provided, date, amount owed
• Goodwill
• Preferential business creditors – Name, address, goods/services provided, date, amount owed
• Secured business creditors – Name, address, goods/services provided, date, amount owed
• Unsecured business creditors – Name, address, goods/services provided, date, amount owed

If you do not have any of the information, contact the appropriate bodies for copies. Failure to provide any information may delay your application.

If the Official Assignee has all documentation to assess the application you can expect to receive a response informing you of the result of your application within 5 working days. If you have not heard from the Official Assignee after this time you should call the Contact Centre on free phone 0508 (INSOLV) 467 658

Important information

Applicants can presently expect to be notified of the result of their application for a No Asset Procedure (NAP), Bankruptcy or a Summary Instalment Order (SIO) within 10 working days. We expect to return to normal processing timeframes by the 1st of July.