Credit Contracts and Consumer Finance Act 2003

Repossession of consumer goods under consumer credit contract - Rules that apply after repossession of consumer goods

83W: Creditor must not sell consumer goods until 15 days after post-repossession notice

You could also call this:

"Creditors can't sell your repossessed goods for 15 days after notice, unless you agree."

Illustration for Credit Contracts and Consumer Finance Act 2003

If you have consumer goods repossessed, the creditor cannot sell them until 15 days after they give you a post-repossession notice. You can agree in writing to let the creditor sell the goods before 15 days are up, if you want to. The creditor also does not have to wait if you ask them to sell the goods within the 15 days, or if they just need to store or repair the goods.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6501384.

This page was last updated on 1 January 2026 — View changes

Topics:

Money and consumer rights > Consumer protection

83V: Notice to be given to debtor, guarantor, and other creditors after repossession of consumer goods, or

"Getting a notice after your things are taken back"

83X: Consequences of selling within 15 days of post-repossession notice, or

"What happens if a lender sells something too quickly after taking it back"

Part 3ARepossession of consumer goods under consumer credit contract
Rules that apply after repossession of consumer goods

83WCreditor must not sell consumer goods until 15 days after post-repossession notice

If a creditor has repossessed any consumer goods, the creditor must not sell, offer for sale, or dispose of the consumer goods until after the expiry of 15 days from the date of service of the post-repossession notice on the debtor.
However, subsection (1) does not apply if—
the sale, offer, or disposal was with the written consent of the debtor, and that consent was given after the consumer goods had been repossessed; or
after the consumer goods are repossessed, the debtor or the debtor’s agent gives the creditor a written notice that requires the creditor to offer the goods for sale within the 15 days referred to in subsection (1); or
the disposal was temporary and for the purposes of storage or repair of the goods.

If subsection (2)(b) applies, the creditor must offer the goods for sale as soon as is reasonably practicable after being required to do so by the debtor.

Compare

1997 No 85 s 23

Notes

Section 83W: inserted, on 6 June 2015, by section 51 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).