Plain language law

New Zealand law explained for everyone

Credit Contracts and Consumer Finance Act 2003

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

83ZA: Debtor may obtain valuation of consumer goods before sale

You could also call this:

"You can get your goods valued before they're sold"

Illustration for Credit Contracts and Consumer Finance Act 2003

You can get a valuation of the consumer goods before they are sold. You are allowed to get one valuation at your own expense. The valuation must happen after the creditor takes the goods and before they are sold. You can ask for access to the goods to get them valued. You must give the creditor reasonable notice. The creditor must let your valuer see the goods to do the valuation. Your valuer must do the valuation at a reasonable time. You can go with your valuer when the valuation happens. Your valuer cannot take the goods away unless the creditor says it is okay.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6501388.

This page was last updated on — View changes

Topics:
Money and consumer rights > Consumer protection
Previous

83Z: Rules relating to sale by creditor, or

"Rules for creditors to sell repossessed goods fairly"

Next

83ZB: Debtor’s right to reinstate credit contract, or

"Paying to get your credit contract back after repossession"

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

83ZADebtor may obtain valuation of consumer goods before sale

  1. The debtor is entitled to obtain, at the debtor’s expense, 1 valuation of the consumer goods as at the time of repossession.

  2. The rules relating to valuations are as follows:

  3. the valuation may take place at any time after the creditor repossesses the consumer goods, but before the creditor sells or agrees to sell the consumer goods in accordance with this subpart:
    1. the debtor must request access to the consumer goods by giving reasonable notice to the creditor:
      1. the creditor must permit the debtor’s valuer such access to the consumer goods as is reasonably necessary to enable the valuation of the consumer goods to take place:
        1. the debtor’s valuer must carry out the valuation at a reasonable time:
          1. the debtor’s valuer has no right to remove the consumer goods unless the creditor gives consent to the removal:
            1. the debtor may accompany his or her valuer when the valuation takes place.

              Compare
              Notes
              • Section 83ZA: inserted, on , by section 51 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).