name@example.com), What never-ending credit card debt is doing to Australians, The great credit card rip-off and how much extra weve paid, There is no specific legislation covering the debt collection industry, only a set of guidelines, Debt collectors working on behalf of businesses often overstep these guidelines, Agencies that don't belong to external dispute resolutions schemes have a particularly poor track record, No more than three times a week, or up to 10 times a month, No more than once a month, and only if you haven't responded to phone calls or other ways to contact you. In the end i raised a complaint with the Water and Electricity Ombudsman (or what ever its called) Fortunately, the Melbourne-based consumer rights organisation Consumer Action got involved, and Mary was able to settle her debt for about half of what the debt collector had demanded. The key regulations include: Due to less desirable actions by some debt collectors in the past, these and other guidelines have been put in place to curb harassment of individuals. With offices in Melbourne and Echuca, ARL supports clients with both commercial and consumer receivables service requirements. And, there seems to be no reason for them to change their ways. In December 2018, the Federal Court ordered one of Australias largest debt collection firms, ACM Group Ltd, to pay $750,000 in penalties for ACMs misleading, harassing, coercive and unconscionable pursuit of underpaid debts from two vulnerable consumers. But I had no other debt. Whats most important to us is helping you sleep at night so you can get on with your life. Panthera did not issue you with an outstanding amount. They have many negative reviews/comments against them throughout the the web. Our 100% FREE quick phone call can help you learn more about this. Panthera Finance; These are all very good and long-standing companies, and also very good at what they do. Email communications are not secure and for this reason Panthera Finance LLP cannot guarantee the security of the email, its contents or that it remains virus free once sent. Ltd. RDAA Number: 1126 PO Box 3074 Newstead, QLD, 4006, Our Privacy Policy | Their Privacy Policy. I later emailed them with the same 'story'. Money had been debited from my account over a six month period, even though the address mix-up meant I had not been paying the bill on where I was actually living with my two kids. n3kGz=[==B0FX'+tG,}/Hh8mW2p[AiAN#8$X?AKHI{!7. Panthera Finance is a scam company, they buy debts of companies and try to collect the debt from the original parties affiliated. With over 15 years of learnings and experience behind us, we leverage innovation to empower consumers to improve their financial well-being. You may also want to speak with the original business which passed the debt collection notice onto Panthera Finance so they can investigate why this debt was incurred and passed on. 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. Paying off a debt is a great achievement! For context, ASX-listed factoring company Scottish Pacific had $100.4 million net revenue and $25.3 million net profit in the 2017 financial year. Panthera admitted the contraventions and made joint submissions to the Court with the ACCC on penalty. Common companies which will onsell bad debts owed by customers include Telcos (such as Telstra, Vodafone, Optus etc) and utilities providers (such as Origin, Energy Australia and AGL). Simon and Ginaregularly visit Nepal to oversee the activities oftheir charity. These organisations tend to focus on how much money is being recovered, not on the methods used to recover it. Consumer advocates say the case highlights an alarming trend. I will be more than happy to investigate this further for you, to ensure that you do have a balance outstanding. They appear to be complicit in a scam. The National Debt Helpline is always available on 1800 007 007. Asked 10 February 2021. The company's shares last closed at $1.11. The Forrests owed $9,600 on their credit card when a debt collector "went for the house". After a long career on the railway starting in 2003, he decided his future lay elsewhere and qualified as a mortgage and protection adviser. hbbd```b``"@$*0DHH ,"SDN6E$L@M``+-@ ! ARL Collect is a credit recovery solutions provider, offering a range of collections options for organisations and government agencies. Then when youre at home, youll find letters in the mail. Panthera Finance is a debt collection company which buys debts off other businesses who are owed money. Creditors with better processes in place, such as some of the big banks, oversee the conduct of the debt collectors they hire and audit their practices before hiring them. Fantastic culture with great office perks and incentives. I would check the email it was sent from, then throw it into spam and block the sender. Collections isnt for everyone but staff are supported to achieve their goals. The lack of a binding legal framework around debt collection means some don't belong to external dispute resolution (EDR) schemes such as the Australian Financial Complaints Authority. This alternative claim will apply if the court finds the conduct involved a financial service, and relies on a delegation of power from ASIC to the ACCC. You don't regain the capital to which you lost access. The issue of 'contingent collectors' third-party agencies that are hired by creditors to go after non-paying customers is of particular concern. In a Brisbane District Court case, Richard Kennerley. endstream endobj 83 0 obj <>stream Ask us to step in! Please speak to a qualified financial counselor or financial planner for professional advice specific to your circumstances. 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. So the mysterious Samantha in the forum claiming to be from Energy Australia must be a phantom. We recently heard the story of one woman whose experience with a debt collector, which dragged on for two years, was particularly gruelling. 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. I was convinced it is a scam since they got my name wrong and was ready to just ignore it but when I looked it up, it showed that it is a real debt collector company tho they . We integrate financial services with digital-first, data driven solutions. There are many complaints about Panthera Finance and their debt recovery efforts through letters and threatening court action. Trading office and Registered office address: Panthera Private Office, Aldermary House, 10-15 Queen Street, London, EC4N 1TX. In October 2018, the Federal Court ordered Equifax Australia Information Services and Solutions Pty Ltd to pay $3.5m in penalties for misleading and deceptive conduct, and unconscionable conduct in relation to credit report services. 91 0 obj <>/Filter/FlateDecode/ID[<67EC803A3CDD1DE50B064399B9D73164>]/Index[79 34]/Info 78 0 R/Length 79/Prev 337865/Root 80 0 R/Size 113/Type/XRef/W[1 3 1]>>stream . But as someone on the receiving end of Panthera's debt collection methods, I don't feel I have been treated with fairness or sensitivity. I received a bill for $1,900 that I never owed. Panthera is a debt collection company which collects debts, both 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. Disclaimer: This a resource and referral website where we may earn a commission on each referral generated. As part of this case, the Court has suppressed the names and details of consumers affected. (And How to Avoid It), How to Refinance Your Mortgage with Bad Credit (Australian Guide). In his spare time, Tom enjoys eating, spending time with family and long country walks with his cocker spaniel Elvis. My wife's son has received a claim from Panthera. There are no consequences for selling debt that remains in dispute. Automated page speed optimizations for fast site performance, Australian Competition & Consumer Comission, Tips on How to Make Buying a New Car Easier, Financial Services in the Digital Era: How to Effortlessly Send and Receive Money, How to Easily Calculate Your Mortgage Rate Payments, Working Abroad Means Tax Planning Too: Heres What You Should Know, Home Loan vs. Mortgage Loan: The Main Benefits Explained, The Top 4 Home Security Tips You Need to Know, Home Decorating Tips That Wont Break the Bank. Every payment is a win and guiding you to a debt-free life. I didn't do anything to engage them or fail to fulfil an obligation, yet Panthera Finance forced me to deal with them because of their constant contact. ", Read more: We will use your name, email address and contact number (personal information) to contact you about the services you have requested or respond to an enquiry you have submitted, which will require us to share your personal information with our advisers and members of staff. Panthera Finance is an Australian debt collection company who specialises in the collection of purchased debts from other businesses. 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. We offer both first and second charge mortgages, but not deals that you can only obtain by going direct to a lender. Over the last two years around 100 people have complained to the ACCC about Pantheras debt collection activities. They can only contact a 3rd party twice per year to get location information about you. 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. HyTSwoc [5laQIBHADED2mtFOE.c}088GNg9w '0 Jb If you believe the debt isnt accurate or shouldnt exist read below where there is information on potential remedies. The attached document below contains the ACCCs initiating court documents in relation to this matter. Now we know its not ideal to have a bad credit rating. ). Then my three-year nightmare began, For the latestflood and weather warnings, search onABC Emergency, Keep across all the live scores and results from the Australian Open at Melbourne Park. 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. Panthera Finance is one of Australia's largest debt buyer and debt collection companies. We had a bill from Panthera Finance stating we owed money to Energy Australia. It also allegedly imposed onerous requirements on these consumers to prove they didnt owe the debts which Panthera was trying to collect. Continue Reading More by The Debt-Free Community, Read this to STOP debt collectors in Australia from contacting you now! When I rang to ask about procedures for ensuring accurate record keeping and appropriate debt collection practices, Panthera's official response revealed very little: "Panthera Finance takes its obligations to its customers very seriously. Not only do they behave in an illegal manner but do not provide any invoices or evidence of the debt that is required to be paid in full. (If a debt collector is an AFCA member, it has to honour any AFCA ruling that it has breached the guidelines and take whatever corrective action the agency calls for.). Panthera issued a default credit listing against my name, even though they were aware the debt was disputed. Be very careful dealing with this dodgy company as there are numerous complaints about them on the net. They were relentless, unscrupulous. Any matters raised with us are fully investigated and each case is handled with fairness, professionalism and sensitivity.". Currently, the consumer has very little to no power. If youve received a notice for a debt that you should have not received, you can alert Panthera Finance to this. If the alleged debt is more than six years old (or more than three years in the Northern Territory), the case is closed and debt collectors can't come after you. Banks are increasingly looking to sell receivables in an effort to lighten the load on their own balance sheets and release capital, and Panthera is expected to step up its buying following CHAMP's investment. 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. We work hard to sort things out so the average Australian doesnt have to. Your reward doesn't need to be expensive, it just needs to be . wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 The information contacting within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. We will not be uploading further documents in the event these initial documents are subsequently amended. "I don't have that sort of money.". The Court also ruled that Panthera misled one of the consumers by telling them they needed to pay Panthera $100 to have a default listing removed from their credit file, even though the credit default listing was incorrect and could have been removed for free under the Privacy Act. Panthera along with a number of debt collectors have been in the news recently due to high profile court cases alleging harassment and breaching of ACCC guidelines. Angela joined Panthera Finance after over 14 years working in Private Banking where she acquired her CeMAP qualification and was involved with all stages of lending requirements, from drafting bespoke offer letters to final release of funds. Panthera Finance Group developed PayQuest as our internal Customer Relationship Management (CRM) tool, built with over a decade of experience in how communication practices and technology can work best in the credit management industry. As far as I remember, I haven't used Energy Australia since 2014, and I've moved places several times since then. Panthera is one of Australias largest debt collection companies, with several brands under them including DIY/automated options for small to medium businesses, mortgage broking and personal/asset finance business arms. Kane Johnson, a senior financial counsellor at Consumer Action, says he regularly hears from beleaguered consumers who are being hounded by debt collectors. This was the first time we used a virtual . What well provide are the fundamental facts to help get your situation sorted. endstream endobj startxref Panthera Finance is expected to step up its buying of receivables owed to the big banks and utilities providers. 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. They hope that youll pick up the phone. Cons. "Some contingent collectors seem to be a law unto themselves. Why has Panthera been in the news recently? Whilst Panthera Finance isnt a scam since they are a legit debt collection agency in Australia, its a good idea NOT to ignore them. Over the last two years around 100 people have complained to the ACCC about Panthera's debt collection activities. We dont ask you for money upfront, and were very nice too. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. I was lucky that my bill was less than a thousand, but I would suggest that you do check with Energy Australia. LiveHire was offering new shares at $1.05 each, with proceeds to accelerate growth. use our interactive tool available in English, simplified Chinese, Arabic and Vietnamese. 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. We've leveraged over a decade of knowledge to create meaningful progress in digital platforms that deliver for clients and the customers they support. The Court held that Panthera harassed three consumers to pay disputed debts despite being advised that they were not liable for the debts and, in the case of two of these consumers, placed an incorrect default listing on their credit rating files. "Based on my experience it seems debt collectors do as they please, on the phone at least. hl7z]6x87Q.7.bY5. Finally, human resources software company LiveHire Ltd has joined the pre-Christmas rush for fresh funds. q Answered 10 February 2021. One day in 2016 I came home to discover my gas had been disconnected. But then again, its never too late for us to help you out. We work hard to help everyday Australians to work through the hurdles. More than this is considered harassment, and you might be able to sue them. Witness B and his financial advisor, informed Panthera on at least three occasions in the period 20 January 2017 to 4 April 2017 that Witness B was not liable for the Telstra Debt, and that Witness B believed the Telstra account was created Panthera Finance LLP is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (www.fca.org.uk/register) under reference 951603. How much does Panthera Finance in Australia pay? They will purchase a debt such as yours for a figure below what you owe, then try to recuperate as much funds as possible. This action is part of our continuing joint efforts with the Australian Securities and Investments Commission to crack down on shady debt collection practices, Ms Court said. Debt recovery efforts through letters and threatening Court action card when a debt collection activities the issue 'contingent. 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