Part 3ARepossession of consumer goods under consumer credit contract
Rules that apply after repossession of consumer goods
83VNotice to be given to debtor, guarantor, and other creditors after repossession of consumer goods
A creditor must serve a post-repossession notice on the debtor and every other person referred to in section 83G(1) within 14 days of the repossession.
The post-repossession notice must—
- be in writing; and
- contain as much of the key information set out in Schedule 3B as is applicable to the relevant credit contract; and
- include any additional prescribed information; and
- be in the prescribed form (if any).
If a post-repossession notice is not served as required by this subpart,—
- the costs of repossessing the consumer goods must be borne by the creditor; and
- the creditor is not entitled to recover those costs from the debtor or the guarantor.
Notes
- Section 83V: inserted, on , by section 51 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).