What is a credit agreement?

I have a Part IX Debt Agreement in Australia. If I move to NZ will this affect my credit there too?

• I have been in a Debt Agreement for 2.5 years of a 4 year agreement and have never missed a payment. I have been living in Australia for 8 years and my wife desperately wants to go home to New Zealand. My work has made me an offer to move back to New Zealand in a higher role and the pay offer in NZD is not comparable (less, much less) to my earnings in Australia. I am an honest person which is why I have entered a Debt Agreement and didn’t go bankrupt, but if I move back to NZ and continue paying my Debt Agreement in AUD I am going to be broke. So my question, “Do I have to pay my Part IX Debt Agreement if I move to New Zealand?” is one of desperation. If you are going to be all “righteous” don’t bother, my conscience is doing a good enough job. If you have good advice or a direct answer to my question, I thank you in advance.

• Answer:

  Sorry I do not know the answer but wouldn't mind knowing this also. I have heard that it doesn't follow you to NZ but doesn't go away if you go back to Aus. You could even get denied entry based on it. With NZ and Aus being so close, it is a tough one.