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. "But that isn't adequate.". Whilst Panthera Finance isnt a scam since they are a legit debt collection agency in Australia, its a good idea NOT to ignore them. In 2017, Champ Private Equity bought into Panthera Finance, valuing the company at $300 million. While researching this article, I called Energy Australia to ask about the process for engaging debt collectors. Enter a valid email address (e.g. What never-ending credit card debt is doing to Australians. Some of the nicer ones wont call you on Sundays. Panthera was also ordered by the Court to pay $100,000 as a contribution to the ACCCs legal costs. Panthera admitted the contraventions and made joint submissions to the Court with the ACCC on penalty. "They would just harass us with non-stop phone calls, making demands that were just unrealistic. 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. Cons. 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. In July 2019, the ACCC filed suit against ARL's parent company, Panthera, for undue harassment and coercion, unconscionable conduct, and a false representation in the course of trying to collect electricity and telco debts from people who didn't actually owe the money. /Fm0 Do We recently heard the story of one woman whose experience with a debt collector, which dragged on for two years, was particularly gruelling. . They can only contact you between 7:30am and 9pm on weekdays. Any fine they might get is unlikely to change business practices, because business as usual appears to make debt collection very profitable. How to Avoid Debt Collectors in Australia [2021 Guide], What is Personal Insolvency? It's been making headlines for a while now, but how does Centrelink's controversial debt-recovery system actually work? Over the last two years around 100 people have complained to the ACCC about Panthera's debt collection activities. How has Panthera Finance responded to the COVID-19 outbreak? I am now searching for information on the relevant ombudsman. The company was seeking to raise $20 million in a placement to sophisticated and professional investors via stockbroker Morgans on Wednesday. Simon started his career in the Fire Service,becoming the youngest serving Fire Officer byage 21. I plan on calling them tomorrow and finding out whats what, because I'm 95% certain I owe nothing. Debt collector Panthera Finance will face Federal Court over claims it harassed customers for debts they never had. 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. 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. Whats most important to us is helping you sleep at night so you can get on with your life. On weekends its between 9am and 9pm, even on Sundays. 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 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 offer both first and second charge mortgages, but not deals that you can only obtain by going direct to a lender. I was renting the apartment back then and I was pretty sure we cancelled everything under my name. With offices in Melbourne and Echuca, ARL supports clients with both commercial and consumer receivables service requirements. Today The Debt Free Community helps everyday Australians in need. Energy Australia refuse to provide any information - they cannot even find someone to press a button and print out details of the supposed account. wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 79 0 obj <> endobj 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. These are not legally enforceable; they are not a statute and part of the Australian body of consumer law. During weekdays, debt collectors can only contact you via the phone between 7:30am-9pm. 2022 Panthera Finance LLP. Help using this website - Accessibility statement. In its most recent annual report filed with the regulator, Panthera's parent company PF Group posted $81.5 million in revenue for the 2018 financial year, up from $59.8 million the year prior. 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. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. 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. That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. 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. Panthera Finance is Australias largest privately-owned debt ledger acquisition and debt collection company. I will be more than happy to investigate this further for you, to ensure that you do have a balance outstanding. Report. Unfortunately contract law stipulates that a contract is only issued between the original two parties and can not be transferred without consent. Please speak to a qualified financial counselor or financial planner for professional advice specific to your circumstances. This is very concerning, given all of these organisations are dealing with people who are often in vulnerable circumstances. 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. It often violates the guidelines, since debt collectors aren't supposed to discuss the debt with anyone but the debtor.). This is great news, however, debt collectors are still out to get you. Is this debt collection real? 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. "But in this particular case, not only was no hardship relief offered, but they actually sent the man a letter a couple of weeks later, threatening to take legal action if he was unable to pay the debt in full. 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. "What we rely on at the moment are a set of guidelines that have been put out by the ACCC and ASIC. I'm not sure why this is relevant, as even if the debt had been legit, Panthera were in breach of the ACCC's debt collection guidelines which state clearly that they can call no more than three times a week. Stay informed. endstream endobj 84 0 obj <>stream 2021 Panthera Finance Group. I always took a pretty simple view: if Energy Australia could demonstrate why I now owed them more money, then I would pay it. I know this is an old post but would like to put my experience on here. We offer a comprehensive range of mortgage products from across the market. Panthera Finance is a debt collection company which buys debts off other businesses who are owed money. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[250,250],'thedebtfreecommunity_com_au-box-4','ezslot_1',126,'0','0'])};__ez_fad_position('div-gpt-ad-thedebtfreecommunity_com_au-box-4-0');Some of these debt collection tactics are purely dodgy. Either way Energy Australia will not help. It was started with the aim of helping everyone in dire straits. Born and raised in Scotland, Jamie studied Spanish and Politics at Newcastle University and spent time living in Mexico before moving to London to embark on a career in mortgages in 2007. ), Media Team - 1300 138 917, media@accc.gov.au, Debt collection company in court over alleged 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, ACM Group Ltd, to pay $750,000 in penalties, Equifax Australia Information Services and Solutions Pty Ltd to pay $3.5m in penalties. 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. This way you can deal with debt collectors like Panthera Finance. 3. Laura lives in Essex with her husband and 2 young sons. q I recently dealt with them due a supposed debt from AGL from 2006.. yes 2006. Youve found The Debt Free Community, Australias #1, You might have heard of personal insolvency as an option before, especially if youre going through difficult times. Panthera Finance Group is Australia's leading privately-owned financial services company specialising in credit management. In the end i raised a complaint with the Water and Electricity Ombudsman (or what ever its called) I don't know if this helps or is even that relevant, but I had the same thing this morning, for a little over 1k. In July, Panthera was sued by the ACCC for its debt collection practices. 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. "So it is quite a common occurrence. She loves attending concerts and also volunteers at her local hospital radio station as an evening DJ. ", Not a day goes by where our financial counsellors aren't speaking to people who have been impacted by debt collectors in some way. 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. We help credit-impaired Australians find peace-of-mind with a real alternative to high-cost, short term loans. 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. Recently I have received another letter about the same account, I rang them this time at first with some choice words and demanding that I never had this account. It turned out that when I moved into my new apartment six months earlier, the wrong address had been added to my account. Those letters, text messages and phone calls can be stopped within days. In Melbourne and Echuca, ARL supports clients with both commercial and consumer receivables requirements! Searching for information on the relevant ombudsman to ensure that you do have a balance outstanding investigate this for... 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