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KiwiSaver Withdrawals Replace Bankruptcies | Auckland News
New Zealand’s bankruptcy numbers are plummeting — from over 3,000 cases a year to under 1,500 — as more people turn to KiwiSaver hardship withdrawals instead, sparking a quiet financial revolution. While bankruptcy offers a clean slate, its stigma and risks deter many, especially those facing job loss or health crises. KiwiSaver withdrawals, though not ideal long-term, provide immediate relief — and financial mentors are swamped helping clients navigate them. The trend hints at a growing demand for compassionate, flexible debt solutions, with calls mounting to replace punitive bankruptcy with…
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