Comparison table

	Debt Repayment Order	No Asset Procedure	Debtors application	Creditors application
Insolvency Act	Section 340-360	Section 361-377	Section 45-49	Section 36-44
Application methods	Official Assignee Electronic Manual Supervisor required	Official Assignee Electronic Manual	Official Assignee Electronic Manual	Court
Usual term	3 to 5 years	1 year	3 years	3 years
Term starts	From date of DRO	From date of acceptable SOA and acceptance of application	From date of acceptable SOA and acceptance of application	From date of acceptable SOA
Lesser term by	Discharge	Termination	Annulment, early discharge	Annulment, early discharge
Minimum debt	None	$1,000	$1,000	$1,000
Maximum debt	$50,000 (unsecured only)	$50,000 (total debt)	None	None
Debtors are restricted from entry if they:	Are able to immediately pay debts	Have realisable assets Have ability to pay some or all of their debts Have previously been bankrupt Have previously been in a NAP Have concealed assets Have engaged in conduct that could be considered an offence under the Insolvency Act Have incurred debts with no intention to pay Bankruptcy proceedings have begun	None	None
Assets	No limit	None realisable	No limit	No limit
Asset disposal method	Retained or sold by debtor	N/A	Vest in Official Assignee	Vest in Official Assignee
Debts that debtor remains responsible for	Maintenance orders Child support Student loans Court fines Reparation	Maintenance orders Child support Student loans Court fines Reparation	Maintenance orders Child support Court fines Reparation	Maintenance orders Child support Court fines Reparation
Restrictions	Incurring credit Must have a Supervisor	Incurring credit	Incurring credit Leaving NZ Self-employment or employment by a related person or entity	Incurring credit Leaving NZ Self-employment or employment by a related person or entity
Responsibilities	Complete Statement of Affairs Provide information Cooperate with Official Assignee Notify change of circumstances Cooperate with Supervisor Comply with terms	Complete Statement of Affairs Provide information Cooperate with Official Assignee Notify change of circumstances	Complete Statement of Affairs Provide information Cooperate with Official Assignee Notify change of circumstances Attend meetings	Complete Statement of Affairs Provide information Cooperate with Official Assignee Notify change of circumstances Attend meetings
Public register	Yes	Yes	Yes	Yes
Duration	Life of DRO	Life of NAP + four years	Discharge + 4 years	Discharge + 4 years
Fees and costs	Application $102.22 Supervisor 7.5% Official Assignee 2.5%	None	$204.44 from first asset realisation Costs and disbursements Official Assignee hourly rate	$204.44 from first asset realisation Costs and disbursements Applicant creditors costs Official Assignee hourly rate