For the first time ever, the NZ government has seen fit to licence Repossession Agents with the licensing commencing on 6 June 2015. Congratulations to Minister Simon Bridges.
Our managing director Ron McQuilter CFE has been a strong advocate for this licensing with consistent horror stories of scary people breaking into a person’s home due to the small print on the credit contracts permitting this practice. Ron tells the story of one “repo man” who was caught in a house and claimed he was a licensed repo agent. When later pressed the intruder produced a dog licence !!
You can obtain more information about the new licensing regime from the government website at http://www.justice.govt.nz/tribunals/PSPLA/repossession-agents-information
Credit repossession agents licensing begins 6 June 2015
From 6 June 2015, all repossession agents must be licensed and all repossession employees must hold a certificate of approval under the provisions of the Private Security Personnel and Private Investigators Act 2010 (PSPPI).
Repossession agents/employees who continue to repossess consumer goods or claim authority to do so without a licence or certificate will be committing an offence and could be fined up to $40,000.