Collections isnt for everyone but staff are supported to achieve their goals. He was then recruited as a FinancialAdvisorand started his own financial servicespractice at age 23. However, I do have a spreadsheet that shows me that I last paid Energy Australia $250 in June 2014. This way you can deal with debt collectors like Panthera Finance. It was started with the aim of helping everyone in dire straits. Is this debt collection real? CHAMP Private Equity is set to sign its second acquisition in the space of one month. "So it is quite a common occurrence. Or is someone using my name under my old apartment? For those seeking to increase their existing borrowing, alternative finance options may be available and more appropriate for your needs. nQt}MA0alSx k&^>0|>_',G! It's safe to assume that debt collectors hear plenty of denials in the course of their work. Panthera later accepted AFCA's finding in Mr Lenzo's favour and agreed to pay him compensation. There are no promises of success nor is there a magic bullet that will instantly get you out of debt. All rights reserved.Privacy Policy. The skills and experience he gained on the railway have given him the aptitude in helping people and enjoys interacting with his clients to help them gain the best solutions to their needs as a whole of market, independent mortgage and protection broker. As far as I remember, I haven't used Energy Australia since 2014, and I've moved places several times since then. use our interactive tool available in English, simplified Chinese, Arabic and Vietnamese. 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". As it stands, the originator of a "debt", such as utilities companies or banks, and the funder of purchasing that debt (including venture capitalists), both get to profit from the systemic and aggressive actions of a very profitable debt collector. Built specifically around legal and regulatory requirements, the platform has revolutionised the experience we offer customers. According to AFCA's communications manager Madison Lovell, 70 per cent of the complaints resolved by the organisation between November 2018 and early October 2019 were done so by "agreement, or in favour of complainants". That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. Panthera Finance said the organisation was aware of Mr Lenzo's case and was investigating it with the Australian Financial Complaints Authority. Then again, we understand that you dont want to pick up the phone as youll likely get some harassment. Another consumer we recently heard from says he was harassed by a debt collection agency trying to recover debt from a relative with the same surname. Finally, human resources software company LiveHire Ltd has joined the pre-Christmas rush for fresh funds. Now we know its not ideal to have a bad credit rating. Scammers are impersonating Panthera and are trying to trick you. Less than six months later, the company was sold for $40 million. When the mistake was identified, my gas was reconnected and the address details were corrected. Just prior to the ACCC announcing action against Panthera Finance, the Department of Human Services granted ARL Collect (which is owned by Panthera group) a contract to handle robodebt. Get the inside story on our investigations into consumer rip-offs and bad business practices. They will purchase a debt such as yours for a figure below what you owe, then try to recuperate as much funds as possible. wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 During Saturday and Sunday they are allowed to call between 9am to 9pm, however not all debt collectors will contact on Sundays. We've leveraged over a decade of knowledge to create meaningful progress in digital platforms that deliver for clients and the customers they support. Panthera Finance Financial Services Toowong, Queensland 1,870 followers Panthera Finance is one of Australia's largest debt buyers and collectors, committed to getting customers out of debt. If they come to your door, you can politely ask them to leave at any time. A mortgage is a loan secured against your home. Our New Zealand branch is an extension of Panthera Finances services, supporting clients across the Tasman with their credit recovery requirements. Bad news if you need to buy a car or house in the future. Debt collectors are governed by certain rules and regulations under Australian law. Panthera issued a default credit listing against my name, even though they were aware the debt was disputed. 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. 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). 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 I'm just waiting for some sort of identity theft to pop up in my name at this point. Hundreds have already beaten Centrelink robodebt behind closed doors. ), Contingent collectors third-party agencies that are hired by creditors to go after non-paying customers are of particular concern. We dont ask you for money upfront, and were very nice too. hl7z]6x87Q.7.bY5. 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. Those letters, text messages and phone calls can be stopped within days. 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 . I feel like I have been harassed and coerced into paying whether I owe anything or not and I am not the first one to feel like this. 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". "They simply accept at face value when the contingent collector tells them that they comply with the debt collection guidelines," says Guthrie. In this guide, were going to talk about what is personal insolvency and the differences it has when compared to other, Did you know that lenders do provide better home loan rates where you can refinance your mortgage with bad credit? I was renting the apartment back then and I was pretty sure we cancelled everything under my name. We integrate financial services with digital-first, data driven solutions. The National Debt Helpline is always available on 1800 007 007. Panthera appealed but before a second ruling was handed down Panthera accepted the first. Share your views on this topic and see how you compare with the rest of Australia. 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. Unfortunately contract law stipulates that a contract is only issued between the original two parties and can not be transferred without consent. It is of concern as it looks like it is either a scam or identity theft. Over an 18-month period, Panthera at first refused to communicate in writing, and instead called me up to three times a day for weeks on end. 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. 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. endstream endobj 84 0 obj <>stream We invest heavily in compliance, complaints procedures, training and customer experience. Panthera Finance LLP is fiercely independent and takes great pride in offering the mortgage that is best for you We operate with total clarity throughout the buying process to deliver a fast and totally reliable service Guiding you home through a personal relationship with one of our team of experienced pro-active brokers Anthony has been working with Panthera Finance for 3 years and brings a wealth of professionalism and expertise with him. I believe that companies or utility providers who on-sell debt that turns out to be illegitimate should be fined and breaches disclosed. . Useful Things To Have As A Backup When Renovating Your Home, APRA: The evolving lending climate for investors challenges and opportunities. Panthera Finance is Australias largest privately-owned debt ledger acquisition and debt collection company. Answer See 1 answer. Purchasing a debt means the ownership, and legal right and interest of the debt, is transferred to Panthera. Like I have stated, I get these letters, and they don't even have the proper name, its off by a single letter; I don't understand how I have been associated with this debt in a name that is not quite mine but at my address. Instead they sold my "debt" to Panthera Finance. The Panthera case is just one example. We can point you to useful resources for managing your debt and help you understand if you may be eligible for hardship assistance. Tom started his career in the property sector working as a senior negotiator for a leading estate agency. During weekdays, debt collectors can only contact you via the phone between 7:30am-9pm. We took this case because of the concerning way Panthera dealt with these consumers who did not owe any money, ACCC Commissioner Sarah Court said. The contingent collectors issue "has probably been magnified with more telcos and energy companies outsourcing their debt collection," Guthrie says. It also allegedly imposed onerous requirements on these consumers to prove they didnt owe the debts which Panthera was trying to collect. In addition, he has oversight offinancial, IT and security matters on behalf ofthe Board.Robin has held his current role for 7 years andpreviously worked at St. Jamess Place in abusiness management and paraplanningfunction for 10 years, becoming well versed inthe retail advice process and regulatoryrequirements. This is great news, however, debt collectors are still out to get you. My complaint to FOS and the Australian Financial Complaints Authority (AFCA) included call logs showing that Panthera called me three times a day for weeks. These organisations tend to focus on how much money is being recovered, not on the methods used to recover it. Follow the topics, people and companies that matter to you. 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. Media Team - 1300 138 917, media@accc.gov.au, Debt collector Panthera to pay $500,000 in penalties for undue harassment, Not receiving products or services that are paid for, Receiving unrequested products or services, Problem with a product or service you bought, Unauthorised transfer of phone or internet services, Supplying products or services that are paid for, Supplying unrequested products or services, Problem with a product or service you sold, Competing fairly in professional services, Competition and anti-competitive behaviour, Collective bargaining and collective boycotts, Implementing a business compliance program, Electricity market monitoring inquiry 2018-25, Postal services price notification and monitoring, Interstate rail network access undertaking, Hunter Valley rail network access undertaking, International liner cargo shipping regulation, Telecommunications industry record keeping and reporting rules, National Broadband Network (NBN) access regulation, Non-NBN fixed line services access regulation, Superfast fixed line broadband networks regulation, Transmission services and facility access regulation, Telstra's migration of fixed line services, Regional mobile infrastructure inquiry 2022-23, Exemption from parts of the wheat port code, The development of bulk wheat exports regulation, Digital platform services inquiry 2020-2025, Retail electricity pricing inquiry 2017-2018, Feminine hygiene products price monitoring, Foreign currency conversion services inquiry, Murray-Darling Basin water markets inquiry, Residential mortgage products price inquiry, Digital platform services inquiry 2020-25, Digital advertising services inquiry report, MVIS information for data providers, repairers and RTOs, Authorisations and notifications registers, Collective bargaining notifications register, Resale price maintenance notifications register, Australian Competition & Consumer Commission, UniSA & ACCC Competition Law & Economics Workshop, Mergers & Competition Exemptions consultations, Cookies, website analytics & other website information, Industry ombudsmen and dispute resolution. More than this is considered harassment, and you might be able to sue them. ", (The tactic is known as 'skip tracing', where debt collectors call anyone who might know the person they're after, including neighbours and employers or Facebook connections. The deal marks a busy period for CHAMP. 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. In other words Energy Australia refused to assist. Businesses, particularly in the debt collection industry, are warned that harassing consumers is unacceptable under any circumstances and can result in significant penalties, Ms Court said. Cons. Go and reward yourself. 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. 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