PDF 330.38 KB This website provides general financial advice only and this advice does not take into account your particular personal or family circumstances, such as your situation, objectives and current needs. Panthera Finance is a debt collection company which buys debts off other businesses who are owed money. CrediBot leverages Artificial Intelligence within a safe and secure platform, enabling businesses to reduce the cost of collections and increase customer engagement, with customisable segmented and automated workflows. In a Brisbane District Court case, Richard Kennerley. During weekdays, debt collectors can only contact you via the phone between 7:30am-9pm. Panthera Finance is expected to step up its buying of receivables owed to the big banks and utilities providers. 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. By the end of this post, youll be well informed to make the right decision. Did your identity get stolen? She thinks an overhaul of the system is in order: "What we need is specific legislation covering the debt collection industry as a whole," she says. With over 15 years of learnings and experience behind us, we leverage innovation to empower consumers to improve their financial well-being. How to Avoid Debt Collectors in Australia [2021 Guide], What is Personal Insolvency? 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. You do realise this is an quite an old thread. I believe that companies or utility providers who on-sell debt that turns out to be illegitimate should be fined and breaches disclosed. Simon started his career in the Fire Service,becoming the youngest serving Fire Officer byage 21. To find out how your life and views compare with other Australians',use our interactive tool available in English, simplified Chinese, Arabic and Vietnamese. "I don't have that sort of money.". endstream endobj 80 0 obj <><><>]/ON[93 0 R]/Order[]/RBGroups[]>>/OCGs[93 0 R]>>/Pages 77 0 R/Type/Catalog>> endobj 81 0 obj <>>>/Rotate 0/Type/Page>> endobj 82 0 obj <>stream But we can help sort it out so they never call you again! Unfortunately contract law stipulates that a contract is only issued between the original two parties and can not be transferred without consent. Hi guys I'm a financial counsellor don't forget overdue accounts and amounts owing become statute barred after 6 years and only 3 years in the NT and ACT so be careful if its an old bill. 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? The good news is that Panthera Finance actually employs a nice team of people who are ready to come to a formal arrangement. Energy Australia will not assist - they referred him to Panthera. For over 15 years, we have provided affordable and flexible credit management solutions that empower customers to restore their financial health. The great credit card rip-off and how much extra weve paid. 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. It's really great. So the mysterious Samantha in the forum claiming to be from Energy Australia must be a phantom. You should try that. The debt is yours (via a contract you had with the original company). 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. Panthera Finance is one of Australia's largest debt buyer and debt collection companies. Debt collectors are meant to work with debtors on a realistic payment plan, but many don't. On weekends its between 9am and 9pm, even on Sundays. In his spare time, Tom enjoys eating, spending time with family and long country walks with his cocker spaniel Elvis. Certain debt collection agencies will have specialised contracts with certain institutions to handle all of their debt collection requirements. 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. Took them two weeks to get back to me. What Do You Need To Check Before You Start A Home Renovation? I know this is an old post but would like to put my experience on here. I believe this company to be a scam operation. While researching this article, I called Energy Australia to ask about the process for engaging debt collectors. Enter a valid email address (e.g. 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. Our New Zealand branch is an extension of Panthera Finances services, supporting clients across the Tasman with their credit recovery requirements. I rang Energy Australia to find out why. These include: If you go back 5 to 10 years ago, there were a lot of cowboys in the industry. Something is not right here. As a non-advising principal of PantheraFinance, he provides operational support to themanagement of the firm. It also allegedly imposed onerous requirements on these consumers to prove they didnt owe the debts which Panthera was trying to collect. Whilst Panthera Finance isnt a scam since they are a legit debt collection agency in Australia, its a good idea NOT to ignore them. Demand they communicate with you only in writing (on paper). In July, Panthera was sued by the ACCC for its debt collection practices. 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. 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When they reverse a default listing, they don't let those same organisations that have an alert on you for a negative ding know that the default has been reversed. . Either way Energy Australia will not help. Is this debt collection real? "Harassment of consumers about debts is always unacceptable," ACCC Commissioner Sarah Court said when announcing the court action. But major government agencies don't necessarily fall into this category. Debt collector Panthera Finance will face Federal Court over claims it harassed customers for debts they never had. Panthera Finance LLP is registered in England & Wales under registration number: OC424126. We can help, and we want to help! 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 "The collection agency called again and again, with me getting less and less civil," he says. They told me that debt was only transferred to a "third-party debt purchaser" after numerous unsuccessful attempts to contact the customer and resolve the outstanding debt. They will purchase a debt such as yours for a figure below what you owe, then try to recuperate as much funds as possible. We know the REAL answer! They can only contact you between 7:30am and 9pm on weekdays. I have spent many hours considering that question as I have negotiated my own unfair debt nightmare. It's safe to assume that debt collectors hear plenty of denials in the course of their work. We want to warn all debt collection agencies that the kind of conduct alleged in this case is not acceptable and will be the subject of further enforcement action against other businesses if necessary, Ms Court said. It is clear something needs to change. 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. Call before you pay!! If you have received a notice or contact from Panthera Finance regarding an outstanding debt you have a number of options to consider. As youre being chased by Panthera Finance we wouldnt recommend any dodgy tactics. This way you can deal with debt collectors like Panthera Finance. Pros. Read more here. 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. We can help sort it out for you, so you dont have to pick up the phone. 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. Panthera was also ordered by the Court to pay $100,000 as a contribution to the ACCCs legal costs. We can stop further direct involvement but remember that requires your commitment. This is great news, however, debt collectors are still out to get you. Panthera acknowledged this, but stated they were calling me for multiple debts and that I had mislead FOS by not disclosing this. Fantastic culture with great office perks and incentives. Beyond Debt is a trading name of DCS Group Aust. "Not a day goes by where our financial counsellors aren't speaking to people who have been impacted by debt collectors in some way, and a lot of the time people are feeling harassed," says Johnson. We got into a back and forth discussion for about a year. Whats most important to us is helping you sleep at night so you can get on with your life. Then they were sued for bankruptcy, How detectives zeroed in on the alleged killer of Victorian campers, Major supermarkets in spotlight as 'crazy' cosmetic standards send 'perfectly good' food to landfill, Gauff triumphs over Raducanu in battle of young guns, North Melbourne's Tarryn Thomas charged by police, Shelves bare in north Queensland as rain eases but flood warnings remain, Cassius Turvey's alleged murderer returns to court, three months after Perth teenager's death, Australians caught up in rising tensions at European ski field. There have been many cases of incorrect debts being assigned due to clerical errors, failed procedures or even fraud so finding out how this debt came into existence is incredibly important. If youre struggling, please get in touch. The attached document below contains the ACCCs initiating court documents in relation to this matter. Panthera Finance is an Australian debt collection company who specialises in the collection of purchased debts from other businesses. Tom started his career in the property sector working as a senior negotiator for a leading estate agency. 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. In my case, I finally decided to believe it was legit. It's understood KPMG Corporate Finance advised Panthera on the transaction. But what? Bill Chaser is an easy to use, risk-free online automated collections platform, built for business We look forward to helping you, as we have done for thousands of people across the country. Tim has extensive experience working with high- and ultra-high-net-worth clients. Bad news if you need to buy a car or house in the future. Consumer advocates say the case highlights an alarming trend. Working in partnership with Equifax, CrediBot has three platform offerings created for unique business requirements CrediBot Express, CrediBot and CrediBot Enterprise. Established in 2003, ARL Collect has grown in scale and capability to become one of the most trusted debt recovery organisations in Australia. Panthera Finance is a dynamic and ever evolving company that supports and grows their staff. Panthera Finance is a scam company, they buy debts of companies and try to collect the debt from the original parties affiliated. When the mistake was identified, my gas was reconnected and the address details were corrected. After a long and middling rugby playing career, Jamie now prefers to watch others playing the game from the comfort of the sofa, and is an avid pub quizzer. This is very concerning, given all of these organisations are dealing with people who are often in vulnerable circumstances. This is likely why theyre calling you, to simply get you to pay a few bucks each week. But these guidelines, set by the Australian Consumer and Competition Commission (ACCC) and the Australian Securities and Investments Commission (ASIC), are just that they're not legally enforceable laws. Fiona Guthrie, chief executive of Financial Counselling Australia, says the debt collection industry "has some good players and, sadly, some not so good players". In one case in particular, the ACCC alleges that Panthera Finance used coercion, made false representations and engaged in unconscionable conduct when dealing with the consumer, even though it knew the consumer urgently needed an incorrect credit default listing removed to obtain finance for a new car. And, there seems to be no reason for them to change their ways. Force them to prove that: 1. 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. they are a real company , had to deal with them before ( someone opened a telstra home line under my name fraudulently ) , they made things super difficult, if i was you i would find out from agl whats going on , and deal with panthera via email/written form only, when i dealt with them , they lied , made things up , failed to deliver any evidence of what was owed and refused to contact telstra after i called telstra and cleared it up with them and provided panthera with reference numbers to interactions with telstra, this was over a 4 month period where i was told multiple times it was sorted. Youll discover how to avoid debt collections in Australia, using this guide and the very effective service that we recommend. 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. 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. Energy Australia refuse to provide any information - they cannot even find someone to press a button and print out details of the supposed account. It is also claimed in the alternative that Panthera breached the Australian Securities and Investment Commission Act by engaging in the same conduct. So, this morning a mail has come to me from Panthera Finance asking me to pay $570 on to them for Energy Australia. "But that isn't adequate.". If you are experienced and can work independently you can work from home. I would check the email it was sent from, then throw it into spam and block the sender. Robert Rough. 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. This is how, 'It's disability bullying': Mother slams Centrelink after $15,000 robodebt is sent to her intellectually disabled son, Kim Forrest and her husband got an instore credit card. One day in 2016 I came home to discover my gas had been disconnected. 2021 Panthera Finance Group. Don't forget to celebrate the small wins along the way. ARL Collect is a credit recovery solutions provider, offering a range of collections options for organisations and government agencies. ), Contingent collectors third-party agencies that are hired by creditors to go after non-paying customers are of particular concern. "I can't give you what you're asking," Mary told them. To share your thoughts or ask a question, visit the CHOICE Community forum. The ACCC is seeking pecuniary penalties, declarations, injunctions, orders for a compliance program, publication orders and costs. Those letters, text messages and phone calls can be stopped within days. 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. They called my husband at work. There are many complaints about Panthera Finance and their debt recovery efforts through letters and threatening court action. You don't regain the capital to which you lost access. Instead they sold my "debt" to Panthera Finance. 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. ; t forget to celebrate the small wins along the way their recovery! They were calling me for multiple debts and that I had mislead FOS by not this! 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