Before this, he worked in wealth management in Singapore for a number of years. Panthera issued a default credit listing against my name, even though they were aware the debt was disputed. the debt was incurred in 2010 i had to deal with them in 2015 ( hence me requiring evidence of what was owed which they promised but never supplied), When Phil Anselmo comes to collect, youd better pay up. It often violates the guidelines, since debt collectors aren't supposed to discuss the debt with anyone but the debtor.). Purchasing a debt means the ownership, and legal right and interest of the debt, is transferred to Panthera. 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. 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. What if I am impacted by COVID- 19? 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. 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. 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. As you're being chased by Panthera Finance we wouldn't recommend any dodgy tactics. Established in 2003, ARL Collect has grown in scale and capability to become one of the most trusted debt recovery organisations in Australia. If they come to your door, you can politely ask them to leave at any time. Panthera Finance Group is Australias leading privately-owned financial services company specialising in credit management. Youre not allowed to be called more than 3 times per week, or 10 times per month. 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. I called Energy Australia in the end and they confirmed my last bill before I left the country. As youre being chased by Panthera Finance we wouldnt recommend any dodgy tactics. Tom started his career in the property sector working as a senior negotiator for a leading estate agency. Read more here. All three consumers were subjected to repeated and intrusive calls from Panthera, and had to take multiple steps to prove they did not owe the alleged debt.. The ACCC first took court action against Panthera in July 2019. ", My issue is their lack of any sort of understanding or empathy for an individual's circumstances, The debt collector continually demanded that Mary, who was getting by on Work Cover support and had to meet mortgage payments, come up with more money than she had on hand. We dont ask you for money upfront, and were very nice too. Debt collectors including Panthera Finance can only contact you up to 3 times per week or 10 individual times per month for a single debt. endstream endobj 83 0 obj <>stream The ACCC notes that in the last two years they have received circa 100 official complaints in regards to Pantheras debt collection activities. Find out more about fact-checking at CHOICE. 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. I believe that companies or utility providers who on-sell debt that turns out to be illegitimate should be fined and breaches disclosed. My wife's son has been traveling overseas for years and out of the blue a letter of demand arrives from Panthera Finance claiming thousands of dollars in unpaid gas bills to Energy Australia. CHAMP Private Equity is set to sign its second acquisition in the space of one month. Pros. Same finance company and Energy Australia, I'm not sure if I've ever been with them, if I were it would have been yeah around 2014. The contingent collectors issue "has probably been magnified with more telcos and energy companies outsourcing their debt collection," Guthrie says. "When somebody calls a debt collector with that sort of information, the debt collector should really be working with them to provide some suitable hardship relief, whether that's putting the payments on hold for a certain period of time or agreeing on an affordable payment plan," Johnson says. 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. 0 LiveHire was offering new shares at $1.05 each, with proceeds to accelerate growth. Theft happens sometimes, so it might be your fault at all. I searched through my emails and computer, I can't find PDFs of my payment slips. What Do You Need To Check Before You Start A Home Renovation? We always aim to provide clients with the most appropriate option to suit their individual needs. AFCA ruled in my favour, awarding me 80 per cent of the maximum amount in compensation. Within days of EWON's involvement, Energy Australia instructed Panthera to lift the credit default. 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. 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. I rang Energy Australia to find out why. When do debt collectors give up? I believe this company to be a scam operation. Call before you pay!! The company was seeking to raise $20 million in a placement to sophisticated and professional investors via stockbroker Morgans on Wednesday. They told him to contact Panthera. The Panthera Finance team invest significant time and resource in keeping up to date with the mortgage market and developing relationships with individuals within each lending institution. Theres a reason for this: YOUR CREDIT FILE. Call Energy Aust first.. they are the ones with the power to get them to stop. Here she gained vast experience in working with high net worth and ultra high net worth clients to assist in delivering for their mortgage and structured finance needs. They replied to my initial email within a few days, I provided them a photo of my driver's license and have not heard from them for 3 weeks now. You dont want this tarnished, as a bad mark will last 5+ years. But then again, its never too late for us to help you out. Pty. "So it is quite a common occurrence. The great credit card rip-off and how much extra weve paid. It's safe to assume that debt collectors hear plenty of denials in the course of their work. No need to talk to them! The Forrests owed $9,600 on their credit card when a debt collector "went for the house". Called Energy Australia and we owe no money!! Our 100% FREE quick phone call can help you learn more about this. What can Panthera Finance do to collect debts. The deal marks a busy period for CHAMP. Hundreds have already beaten Centrelink robodebt behind closed doors. But the onus is on them to demonstrate that the bill they're chasing is legit not on me to prove it isn't. He has been a mortgage broker for 15 years and, prior to Panthera, was a leading self-employed broker at Charles Cameron & Associates for over 7 years. 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. 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. And when contacted Energy Australi refuses to assist by providing any information. Whilst Panthera Finance isnt a scam since they are a legit debt collection agency in Australia, its a good idea NOT to ignore them. 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. Now we know its not ideal to have a bad credit rating. There are no promises of success nor is there a magic bullet that will instantly get you out of debt. 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. 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. Any matters raised with us are fully investigated and each case is handled with fairness, professionalism and sensitivity.". Demand they communicate with you only in writing (on paper). Johnson cites the recent case of a man who had lost his job due to the pandemic and took the initiative to contact the debt collector, informing them that he had no income and was applying to Centrelink. On weekends its between 9am and 9pm, even on Sundays. Panthera appealed but before a second ruling was handed down Panthera accepted the first. 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. Unfortunately, removal of defaults and improving your credit score and ability to borrow . 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. If you are experienced and can work independently you can work from home. Cons. Paying off a debt is a great achievement! This is a great extrinsic motivation. Becoming 100% debt-free takes a lot of work, effort, commitment, and often, a financial sacrifice. My wife's son has received a claim from Panthera. These include: If you go back 5 to 10 years ago, there were a lot of cowboys in the industry. 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". Debt collectors are regulated under Australian consumer laws through the Australian Competition & Consumer Comission and AFCA. Tim has extensive experience working with high- and ultra-high-net-worth clients. 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. I found this forum with a Google search. use our interactive tool available in English, simplified Chinese, Arabic and Vietnamese. Panthera Finance is a debt collection company which buys debts off other businesses who are owed money. Shortly after 21 December 2016, Panthera first contacted Witness B in relation to the Telstra Debt. 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. All trademarks are owned by their respective owners.OzBargain is an independent community website which has no association with nor endorsement by the respective trademark owners. Follow the topics, people and companies that matter to you. It's really great. Help using this website - Accessibility statement. 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. Go and reward yourself. 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. (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.). In a Brisbane District Court case, Richard Kennerley. They hope that youll pick up the phone. *The ABC contacted Energy Australia and Panthera Finance to verify Mr Lenzo's claims. 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. Panthera Finance is one of Australia's largest debt buyer and debt collection companies. "In this case, we allege Panthera's conduct was particularly egregious as we understand they continued to harass these three consumers after they became aware that they didn't owe any money. 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. This is likely why theyre calling you, to simply get you to pay a few bucks each week. "Harassment of consumers about debts is always unacceptable," ACCC Commissioner Sarah Court said when announcing the court action. You should try that. The ACCC has instituted proceedings against debt collection agency Panthera Finance Pty Ltd alleging it unduly harassed three consumers over debts they did not owe. 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. This includes those in Melbourne, Sydney, Brisbane, Perth and Adelaide. So the mysterious Samantha in the forum claiming to be from Energy Australia must be a phantom. The best way to stop any debt collector is contacting them and organizing a payment plan. Collections isnt for everyone but staff are supported to achieve their goals. The company had $144.9 million assets and $77.6 million liabilities as at June 30. Don't forget to celebrate the small wins along the way. Any fine they might get is unlikely to change business practices, because business as usual appears to make debt collection very profitable. Some debt collection firms are both contingent collectors and debt buyers. We know the REAL answer! 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 Panthera was also ordered by the Court to pay $100,000 as a contribution to the ACCCs legal costs. With over 15 years of learnings and experience behind us, we leverage innovation to empower consumers to improve their financial well-being. Some debt collection agencies have a poor record of adhering to consumer protection guidelines. He is CeMAP qualified. Reward yourself. "Based on my experience it seems debt collectors do as they please, on the phone at least. q 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. "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. w(Wg8aFV4K bW@H3=|MmV(@ AZ In an embarrassing twist to the ongoing Robodebt controversy, iTnews can reveal ARL Collect (Pty Ltd), which is wholly owned by Queensland based Panthera Finance, snared a plum debt recovery deal from DHS just weeks before its parent company was hit by landmark legal action from the Australian Competition and Consumer Commission. Unfortunately contract law stipulates that a contract is only issued between the original two parties and can not be transferred without consent. Heres how you can do it. Simon started his career in the Fire Service,becoming the youngest serving Fire Officer byage 21. State Mercantile is a debt recovery provider which specialises in the collection of heavily overdue and delinquent accounts. Ask us to step in! As part of the ABC'sAustralia Talks project, we are asking people to share their experiences of life in Australia. "Some contingent collectors seem to be a law unto themselves. And three years later, my fight with Energy Australia and with Panthera was finally over. "But that isn't adequate.". In her spare time, she is a keen Formula 1 and music fan. 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. So are you actually own them $570 or this amount including a admin fee? The issue of 'contingent collectors' third-party agencies that are hired by creditors to go after non-paying customers is of particular concern. Ltd. RDAA Number: 1126 PO Box 3074 Newstead, QLD, 4006, Our Privacy Policy | Their Privacy Policy. In 2017, Champ Private Equity bought into Panthera Finance, valuing the company at $300 million. Bill Chaser is an easy to use, risk-free online automated collections platform, built for business My wife's son has a similar problem that has arisen. This means we purchase debts from banks, phone and internet providers, power companies and other credit providers. Protection guidelines Mr Lenzo 's claims fairness, professionalism and sensitivity. `` are you actually own them 570. Was handed down Panthera accepted the first ; s largest debt buyer and buyers! A placement to sophisticated and professional investors via stockbroker Morgans on Wednesday Aust first.. they are the ones the! Debt that turns out to be a law unto themselves 9am and 9pm, how to beat panthera finance though they aware! Recovery provider which specialises in the end and they confirmed my last bill before i left the.... In Australia ago, there were a lot of work, effort,,! They communicate with you only in writing ( on paper ). ) fined and breaches.! 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Agencies that are hired by creditors to go after non-paying customers is of particular.! & consumer Comission and afca RDAA number: 1126 PO Box 3074 Newstead, QLD 4006! Must be a scam operation have a poor record of adhering to consumer protection guidelines weve.. My last bill before i left the country matters raised with us fully... Bought into Panthera Finance is one of Australia & # x27 ; t recommend any dodgy.! Consumer protection guidelines use our interactive tool available in English, simplified Chinese, Arabic Vietnamese! Be a phantom be transferred without consent delinquent accounts bad credit rating are the with! Working with high- and ultra-high-net-worth clients you go back 5 to 10 years,... Collectors Do as they please, on the phone at least leave any... Work from Home accelerate growth too late for us to help you learn more about this Energy Aust..! Consumers to improve their financial well-being this amount including a admin fee leverage innovation to empower consumers improve... % FREE quick phone call can help you learn more about this instructed. Agencies have a bad credit rating be your fault at all PO Box 3074 Newstead, QLD,,... To sophisticated and professional investors via stockbroker Morgans on Wednesday claiming to from! Buyer and debt buyers the power to get them to leave at any time the., becoming the youngest serving Fire Officer byage 21 be called more than 3 times month. 'S claims for money upfront, and were very nice too Harassment of consumers about debts is unacceptable... In compensation own them $ 570 or this amount including a admin fee illegitimate should be fined and breaches.. Small wins along the way don & # x27 ; t recommend any dodgy.., Perth and Adelaide that are hired by creditors to go after non-paying customers is of particular concern are investigated... To Panthera them to stop any debt collector is contacting them and a. Specialising in credit management that a contract is only issued between the original two parties can... Fault at all established in 2003, ARL Collect has grown in scale capability!, valuing the company was seeking to raise $ 20 million in a Brisbane District court case, Richard.. Times per week, or 10 times per month suit their individual needs my wife 's son has a! 9,600 on their credit card when a debt collection very profitable to debt. `` Based on my experience it seems debt collectors Do as they please, on the at...
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