Yes, but if the child is young/old/maori/pacific island/female/gay/lesbian/vertically challenged/left-handed/unemployable/a green party supporter or all of the above then on their return they will be classified as a member of a disadvantaged group.
At that time all will be forgiven and they will no doubt qualify for WINZ (read taxpayer) support.
YOU left out if he was BOTTLE FED....
surely Breastfed kids are smarter
The first thing a debt collection company does when they receive a debt to collect is list it with Veda. Therefore for the next 5 years the mark is already there. Even if you repay it the mark is on his credit report so you haven't helped him protect his credit rating.
Davo I know in my head you are right it's time he stood up and acted like a man but in my heart he's my boy and I want to protect him
I wish I could get the emotion out of it because I know you are probably right
I have a cousin who has been "helped" all his life.
When he was a young man with a wife and child he was given the family homestead.....a substantial house in Napier....he sold it and squandered the money....lost it in some silly "sure-fire" get rich scheme
His dad has bailed him out of many more failed financial schemes....paying off debts so that he wouldn't be bankrupted.....this of course allowed him to continue his life uninterrupted.
With this lesson well learnt he went out and repeated the experience.... another failed "sure thing" ........so again his dad "helped" him by bailing him out.
And more than once his dad loaned him money to "help him thru' a tight spot"
My cousin now has nothing.....no marriage, no house and doesn't even own a car.....worse still he's lost touch with his son
And I'm sure he'd still be bludging off his dad.....if only he had the money to give!
So please resist the temptation to "help" your son.