Get the inside story on our investigations into consumer rip-offs and bad business practices. It turned out that when I moved into my new apartment six months earlier, the wrong address had been added to my account. In December 2018, the Federal Court ordered one of Australias largest debt collection firms, ACM Group Ltd, to pay $750,000 in penalties for ACMs misleading, harassing, coercive and unconscionable pursuit of underpaid debts from two vulnerable consumers. Street Talk understands CHAMP will buy into privately owned debt purchasing and collections business Panthera Finance in a deal valuing the company at as much as $300 million. Harassment of consumers about debts is always unacceptable. It's been making headlines for a while now, but how does Centrelink's controversial debt-recovery system actually work? ARL Collect is a credit recovery solutions provider, offering a range of collections options for organisations and government agencies. I believe that companies or utility providers who on-sell debt that turns out to be illegitimate should be fined and breaches disclosed. Certain debt collection agencies will have specialised contracts with certain institutions to handle all of their debt collection requirements. Panthera Finance has purchased more than $5.5 billion in receivables from banks, telcos, utilities and the like. Or just a scam? Perhaps unpaid credit card repayments, loan arrears and bills which are well past their due dates. As a case in point, the Department of Human Services hired the debt collection firm ARL Group to recover money from welfare recipients in 201920. "Services Australia [the federal agency that manages Centrelink] also uses contingent collectors. They appear to be complicit in a scam. use our interactive tool available in English, simplified Chinese, Arabic and Vietnamese. When the mistake was identified, my gas was reconnected and the address details were corrected. Theyll sometimes call you on different numbers every single day. Designed specifically for the needs of SMEs who cant afford a collections or finance team, the Bill Chaser online platform enables businesses to load the debts they are owed in a simple, intuitive way. Today The Debt Free Community helps everyday Australians in need. I too have been receiving misc xero style invoices from various 'big name' companies (e.g Telstra, Energy Australia), that I know I have no association with. Since 2014 the ACCC has had a standing delegation of certain of ASIC powers and functions for the purposes of investigation and commencement and conduct of any proceedings in relation to matters involving financial products and services provided as part of, or in connection with credit repair and debt collection. The Federal Court has ordered that Panthera Finance Pty Ltd pay $500,000 in penalties for unduly harassing three consumers over debts they did not owe and for misleading one of the three consumers. endstream endobj 83 0 obj <>stream Guthrie says there's a lack of oversight of contingent collectors by some of the organisations that hire them, all the more troubling because the debt collectors are often going after vulnerable people. Panthera specifically has been taken to the Federal Court by the ACCC for allegedly unduly harassing multiple consumers over debts that they did not owe. But what if the debt was in dispute as mine was? Every payment is a win and guiding you to a debt-free life. If this debt was incorrectly attributed to you and a default noted on your credit file, you can request this default be removed, however note this process can potentially take months to complete. hbbd```b``"@$*0DHH ,"SDN6E$L@M``+-@ ! Or is someone using my name under my old apartment? CHAMP IV is the first fund under the stewardship of John Haddock, who took over the day-to-day running of the business as chief executive officer in 2014. Simply call the Police if this happens. I'll skip steps 2 and 3 here, 'cause it ain't your debt. I'd say your first plan of attack should be to discuss this with Energy Australia - find out if you really do owe them anything, and the details thereof. 2y.-;!KZ ^i"L0- @8(r;q7Ly&Qq4j|9 The ACCC notes that in the last two years they have received circa 100 official complaints in regards to Pantheras debt collection activities. All communication is supported and monitored through the platform, via SMS, email, or phone call, enabling our contact centre operators to optimise the communication methods and techniques our customers prefer. Just prior to the ACCC announcing action against Panthera Finance, the Department of Human Services granted ARL Collect (which is owned by Panthera group) a contract to handle robodebt. I received a letter over a year ago about this and emailed them that it couldn't be me that has this debt, the name on the letter wasn't exactly right and I knew I never had an account with Energy Australia. Read more: Customers will be sent a series of emails and SMS messages, as well as being given access to an easy, secure online way to manage and pay their debt. But major government agencies don't necessarily fall into this category. The National Debt Helpline is always available on 1800 007 007. Are you able to send me an email with your account information to help@energyaustralia.com.au or alternatively you can contact us on 133 466 to discuss further. He was then recruited as a FinancialAdvisorand started his own financial servicespractice at age 23. Some of the nicer ones wont call you on Sundays. endstream endobj 84 0 obj <>stream In December 2018, the federal court ordered one of Australia's largest debt collection firms, ACM Group, to pay $750,000 in penalties for misleading, harassing, coercive and unconscionable conduct in the pursuit of unpaid debts from two vulnerable consumers. . Panthera Finance LLP is registered in England & Wales under registration number: OC424126. If youve received a letter in the mail or SMS about some old debt with Panthera Finance, its probably from Optus, Simply Energy, AGL or Energy Australia. wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 hl7z]6x87Q.7.bY5. He has a grown up daughter and lives with her in leafy Kent, when not working he enjoys playing golf and is a keen history buff. Pty. Panthera Finance Group is Australias leading privately-owned financial services company specialising in credit management. Force them to prove that: 1. We recommend that you address this, even if you think its not your debt. 2022 Panthera Finance LLP. What if I am impacted by COVID- 19? ACM chose to fight all the way to the Federal Court before losing, and was fined $750,000. Paying off a debt is a great achievement! $D ='D|)@pjB p+`A(@$qRad2$aB,DIP@6NkrNUO8.W( %Ef8*:'J8 Br$nLtz7^+ `- W56AMUnso zn&*3lAYuSYyo!eD^Mtup#6!2 The good news is that Panthera Finance actually employs a nice team of people who are ready to come to a formal arrangement. CrediBot enables businesses to give their customers the digital experience they deserve. While researching this article, I called Energy Australia to ask about the process for engaging debt collectors. Call the National Debt Helpline on 1800 007 007 for free and confidential advice. It also allegedly imposed onerous requirements on these consumers to prove they didnt owe the debts which Panthera was trying to collect. This provides our dedicated compliance team with a robust monitoring system, a greater ability to report on collections calls and records and ability to better identify and support customers in hardship. hVmoF++K"5]XS$Kr}qPm3$W[Vayfgyf b#Q@|/$'K TD"I'"B Our 100% FREE quick phone call can help you learn more about this. %%EOF At Panthera, his focus is dealing with all aspects of client management and administration, from the initial client contact through to completion, whilst handling matters of compliance and ensuring regulatory procedures are met. hb```f``"Y@9> 9%)gd x Y^]#'x6]( X Y@ENcd0u Now we know its not ideal to have a bad credit rating. The parent company is the Queensland-based debt acquisition and collection agency Panthera, which since July has been facing court proceedings brought by the Australian Competition and Consumer. The company had $144.9 million assets and $77.6 million liabilities as at June 30. Within days of EWON's involvement, Energy Australia instructed Panthera to lift the credit default. I tried to negotiate with them, but they would never accept what was being offered. Panthera acknowledged this, but stated they were calling me for multiple debts and that I had mislead FOS by not disclosing this. Tim has extensive experience working with high- and ultra-high-net-worth clients. It often violates the guidelines, since debt collectors aren't supposed to discuss the debt with anyone but the debtor.). And three years later, my fight with Energy Australia and with Panthera was finally over. "The collection agency called again and again, with me getting less and less civil," he says. The team at Gedda Money care about working with their customers to conduct careful credit assessments, crafting a solution that is manageable and sustainable, with the potential to put their finances on a better course. Laura lives in Essex with her husband and 2 young sons. Go and reward yourself. In July 2018, ACM Group Limited, another collections firm, was fined $750,000 for actions including, "ongoing harassment of a care facility resident who had difficulty communicating after suffering multiple strokes". ", Read more: What we need is specific legislation covering the debt collection industry as a whole, "In our experience, many of the problems with the debt collection industry are with debt collectors that are not members of EDR schemes," says Fiona Guthrie. Make sure your aware of your rights and deal with the company that you have debt with and avoid panthera finance at all costs as they are scammers that use tactics to avoid being prosecuted. Those letters, text messages and phone calls can be stopped within days. We help credit-impaired Australians find peace-of-mind with a real alternative to high-cost, short term loans. I rang Energy Australia to find out why. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[300,250],'thedebtfreecommunity_com_au-large-mobile-banner-1','ezslot_12',133,'0','0'])};__ez_fad_position('div-gpt-ad-thedebtfreecommunity_com_au-large-mobile-banner-1-0');if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[300,250],'thedebtfreecommunity_com_au-large-mobile-banner-1','ezslot_13',133,'0','1'])};__ez_fad_position('div-gpt-ad-thedebtfreecommunity_com_au-large-mobile-banner-1-0_1'); .large-mobile-banner-1-multi-133{border:none !important;display:block !important;float:none !important;line-height:0px;margin-bottom:7px !important;margin-left:auto !important;margin-right:auto !important;margin-top:7px !important;max-width:100% !important;min-height:250px;padding:0;text-align:center !important;}. Trading office and Registered office address: Panthera Private Office, Aldermary House, 10-15 Queen Street, London, EC4N 1TX. Cant Pay My Debt: Heres the BEST solution! So whilst you may not have originally incurred a debt with a debt collector such as Panthera Finance, they have your existing debt from another party assigned to them and youre legally obliged to now pay the debt to their company. Scammers are impersonating Panthera and are trying to trick you. Should I call those Panthera Finance company tomorrow and explain this? That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. The firm agreed to pay about $170 million for infrastructure project supplies company Jaybro only last month, which was its fifth deal in the firm's "CHAMP IV" buyout fund. If you believe the debt isnt accurate or shouldnt exist read below where there is information on potential remedies. This includes those in Melbourne, Sydney, Brisbane, Perth and Adelaide. (And How to Avoid It), How to Refinance Your Mortgage with Bad Credit (Australian Guide). Call before you pay!! Bad news if you need to buy a car or house in the future. Checked for accuracy by our qualified fact-checkers and verifiers. This is very concerning, given all of these organisations are dealing with people who are often in vulnerable circumstances. An EA spokesman acknowledged a portion of the bill sent to Mr Lenzo was incorrect and said Energy Australia had withdrawn the full amount in recognition of "inconvenience caused". Panthera Finance is a debt collection company which buys debts off other businesses who are owed money. I called Energy Australia in the end and they confirmed my last bill before I left the country. Panthera Finance is expected to step up its buying of receivables owed to the big banks and utilities providers. free barista coffees and office incentives. As far as I remember, I haven't used Energy Australia since 2014, and I've moved places several times since then. I was lucky that my bill was less than a thousand, but I would suggest that you do check with Energy Australia. I plan on calling them tomorrow and finding out whats what, because I'm 95% certain I owe nothing. Pros. AFCA ruled in my favour, awarding me 80 per cent of the maximum amount in compensation. Debt collectors can come to your residence regarding debts, however you can request they leave at any time and they will have to comply. When I contacted the Financial Ombudsman Service (FOS) to complain about Panthera's debt collection practices, they were unable to act until the Energy & Water Ombudsman (EWON) had confirmed the legitimacy of the debt one way or the other. When do debt collectors give up? For example, a further advance from your existing lender or an unsecured loan (e.g., a personal loan). Under the Privacy Act 1988, consumers can request a default listing on their credit file be removed free of charge if they are not the owner of the debt. But a few weeks later I received a bill for about $1,900. That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. 0 *The ABC contacted Energy Australia and Panthera Finance to verify Mr Lenzo's claims. Pros. Cons. Whats most important to us is helping you sleep at night so you can get on with your life. Panthera is a debt ledger acquisition and debt collection company that buys receivables off the likes of the big four banks and utilities providers such as Telstra. Panthera is a debt collection company which collects debts, on behalf of other businesses and by purchasing non-performing debt for significantly less than its face value and then attempting to recover the full amount. Stay informed. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), abc.net.au/news/i-never-thought-i-would-end-up-being-chased-by-debt-collectors/11685450, Get breaking news alerts directly to your phone with our app, Help keep family & friends informed by sharing this article, Debt collectors are bankrupting Australians, Child abuser superannuation loophole to be closed by federal government, 'Starved' national galleries and museums hopeful of May budget cash lifeline, Ukraine's interior minister among 14 dead after helicopter crashes near kindergarten outside Kyiv, Teenage boys in custody after reports of gun shots in Queensland's Western Downs spark emergency declaration, Passengers heard 'bang' as Qantas flight crossed the Pacific, pilot issued mayday call, Unheralded Aussie steals the show with freakish moment at Australian Open, Thanasi Kokkinakis sets up clash with Andy Murray after marathon delay, Church of England bishops refuse to allow same-sex marriages after years of debate, Days after deadly Yeti Airlines crash, grieving families wait for Nepalese authorities to return the bodies, in breach of the ACCC's debt collection guidelines, ongoing harassment of a care facility resident.
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