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Credit Contracts and Consumer Finance Act 2003

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

83ZL: Debtor’s, etc, right to recover surplus

You could also call this:

"Getting back extra money you don't owe"

Illustration for Credit Contracts and Consumer Finance Act 2003

You have the right to get back any surplus money from the creditor, as stated in section 83ZJ. This means you can recover the amount of surplus from the creditor. You are entitled to this surplus.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6501405.

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Topics:
Money and consumer rights > Consumer protection
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83ZK: Surplus may be paid into court, or

"If you're not sure who gets leftover money, you can pay it to the court."

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83ZM: Limit on creditor’s right to recover from debtor, or

"You only pay the difference if goods you bought on credit are sold."

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

83ZLDebtor’s, etc, right to recover surplus

  1. The persons referred to in section 83ZJ are entitled to recover the amount of any surplus from the creditor.

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