What do you do if you can’t pay your debts on time?

In today’s economic environment many people are finding themselves in the situation of juggling their money to pay off debts.

If someone is struggling to pay their debts the longer they keep creditors in the dark and ignore payment requests the more difficult the situation is likely to become.

A negative credit rating is damaging and can jeopardize future credit applications.

Much depends on the size of the debt owed as to what actions creditors are likely to take.  If the debt is restricted to a few hundred dollars it will usually be sent to a debt collection agency.  If, however, the amount outstanding is substantial it is likely that lawyers and even the courts will become involved.

The key point to note with outstanding debts is that things will only get worse unless the indebtedness is managed, faced and action taken.

So what actions can be undertaken if you find yourself with mounting debts?

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West Auckland Licensing Trusts wins national workplace award

Congratulations to our client The Trusts for winning the Most Improved Large Workplace in the Kenexa Best Workplace Awards. The Kenexa Best Workplace Awards are a national competition and have been in existence for 13 years. The objective of the awards is to recognise, encourage and promote great workplaces by providing workplaces with information that will help…

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Winners of the Westpac Auckland West Business Awards 2012

The 2012 Westpac Auckland West Business Awards were recently held at the Trusts Stadium in Waitakere.

UHY Haines Norton sponsored the 2012 Excellence in Information Management award, which was won by Freeviewshop.

 

 

 

 

 

 

 

The photo above shows Tim Livingstone with the proud winners on Awards Night.

Freeviewshop was launched in 2006 and is based in Titirangi it specialises in supplying satellite and digital terrestrial equipment including state of the art Freeview NZ digital receivers.  The firm also supplies satellite dishes and a range of technical and installation equipment.

In awarding the 2012 Excellence in Information Management award to Freeviewshop the judges commended the firm for “identifying the requirements of its business and measuring performance so that it manages and tracks information flow.  This translates into good decision making and business success”.

UHY Haines Norton congratulates Debbie and Lars on winning this year’s Excellence in Information Management award.

Other firms nominated for the Excellence in Information Management award were Buy West Realty Limited, Spectrum Consulting Limited and Torque Performance Honda Service Centre.

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Craigs Investment Partners Market Update

 

 

The New Zealand sharemarket posted another month of strong returns in October, buoyed by solid commentary at most annual meetings and continuing demand for dividend yields. The 3.2% rise in the NZX50 outpaced the 3.0% rise we saw from the Australian market and was certainly better than the -2.0% performance from the US market.

In the US, the corporate reporting season has played a part in this softness with the current quarter shaping up to be the weakest in three years. Most companies have posted better than expected profits, but the concern has come from the weakness in top line revenue, where 60% have disappointed the market. This suggests that corporates are growing earnings by cost-cutting, rather than due to strong demand for goods and services.

We have seen positive signs of late coming from the world’s second largest economy. Although Chinese economic growth for the September quarter was 7.4%, the slowest rate of growth since 2001 (apart from a 6.6% growth rate in the first quarter of 2009), most economists are picking this to be the trough, with the current quarter expected to be higher at 7.7%. Forward-looking indicators also point to a pickup in activity, with industrial production, retail sales and fixed asset investment all beating forecasts recently.

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Staff News – November 2012

This month we say goodbye to two staff members. Ray Kelly  Ray is retiring in November.  Ray first joined UHY Haines Norton (Auckland) Limited, or Butts Bainbridge Weir as it was then, in 1987 he left in 1994 to do 10 years missionary work in Spain.  After leaving Spain Ray re-joined the firm in 2004 and…

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