Bad news if you need to buy a car or house in the future. It's been making headlines for a while now, but how does Centrelink's controversial debt-recovery system actually work? Or is someone using my name under my old apartment? 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. Find out more about fact-checking at CHOICE. 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. 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. "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. Theft happens sometimes, so it might be your fault at all. I believe this company to be a scam operation. We're here to help you on this journey, so if you have any questions or can't pay, you can call us on 1300 722 974, live chat with us, or email us at manager@pantherafinance.com.au. Thanks - I tried Energy Australia - they are no help. Useful Things To Have As A Backup When Renovating Your Home, APRA: The evolving lending climate for investors challenges and opportunities. In July, Panthera was sued by the ACCC for its debt collection practices. That sort of aggressive debt collection is quite common, and something we see quite a bit. If youve received a notice for a debt that you should have not received, you can alert Panthera Finance to this. @Baysew: We tried the email - they would not provide any information. We care about accuracy. Panthera Finance has an exponential growth story and has established itself as the second largest PDL acquirer in the Australian market. I recently dealt with them due a supposed debt from AGL from 2006.. yes 2006. 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). Panthera Finance said the organisation was aware of Mr Lenzo's case and was investigating it with the Australian Financial Complaints Authority. The ACCC alleges that Panthera Finance repeatedly contacted the three consumers for the payment of the disputed debts despite being advised that they were not liable for the debts, and in two cases placed an incorrect default listing on the consumers credit rating files. 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. Robert Rough. It is clear something needs to change. "Based on my experience it seems debt collectors do as they please, on the phone at least. Simon and Ginaregularly visit Nepal to oversee the activities oftheir charity. Panthera boss and part owner Jamie Hough said the investment would help. 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. 10 online scams you need to know about. For over 15 years, we have provided affordable and flexible credit management solutions that empower customers to restore their financial health. ). By the end of this post, youll be well informed to make the right decision. 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. We recently heard the story of one woman whose experience with a debt collector, which dragged on for two years, was particularly gruelling. In this case, we allege Pantheras conduct was particularly egregious as we understand they continued to harass these three consumers after they became aware that they didnt owe any money.. The firm agreed to pay about $170 million for infrastructure project supplies company Jaybro only last month, which was its fifth deal in the firm's "CHAMP IV" buyout fund. I later emailed them with the same 'story'. Within days of EWON's involvement, Energy Australia instructed Panthera to lift the credit default. At Panthera Finance Group, we integrate financial services with digital-first, data-driven solutions. They called my husband at work. They can only contact you between 7:30am and 9pm on weekdays. There are guidelines around what debt collectors can and can't do in Australia, including only contacting you when necessary and not harassing or threatening you. 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 . Pros. I have spent many hours considering that question as I have negotiated my own unfair debt nightmare. Call before you pay!! I can confirm that Panthera Finance is a legitimate collection agency. The ACCC alleges that Panthera repeatedly contacted the three consumers for the payment of the disputed debts despite being advised that they were not liable for the debts, and in two cases placed an incorrect default listing on the consumers credit rating files. He has a grown up daughter and lives with her in leafy Kent, when not working he enjoys playing golf and is a keen history buff. We can help sort it out for you, so you dont have to pick up the phone. They must comply, and theyre not allowed to do surveillance. If youre struggling, please get in touch. However, I do have a spreadsheet that shows me that I last paid Energy Australia $250 in June 2014. LiveHire was offering new shares at $1.05 each, with proceeds to accelerate growth. You do realise this is an quite an old thread. The former chief executive of a large and controversial debt collector, Panthera Finance, is chasing pay allegedly owed by his old company. During weekdays, debt collectors can only contact you via the phone between 7:30am-9pm. 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. Simon started his career in the Fire Service,becoming the youngest serving Fire Officer byage 21. 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. He did and Energy Australia will not assist him. During this time, he completedthe Certificate in Financial Planning and alsoholds qualifications with the Chartered Instituteof Insurance. Panthera's parent company, PF Australia Pty Ltd, reported $58.4 million revenue and $22.4 million profit in the year to June 30 according to accounts filed with the corporate regulator, and $51.5 million revenue and $23.8 million profit one year earlier. ", (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. Laura lives in Essex with her husband and 2 young sons. 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. In my case, I finally decided to believe it was legit. Theres a reason for this: YOUR CREDIT FILE. Yes, its true. 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. But what if the debt was in dispute as mine was? 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. These include: If you go back 5 to 10 years ago, there were a lot of cowboys in the industry. But what? Scammers are impersonating Panthera and are trying to trick you. As a non-advising principal of PantheraFinance, he provides operational support to themanagement of the firm. That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. You don't regain the capital to which you lost access. 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. ", Read more: We offer both first and second charge mortgages, but not deals that you can only obtain by going direct to a lender. x- [ 0}y)7ta>jT7@t`q2&6ZL?_yxg)zLU*uSkSeO4?c. R -25 S>Vd`rn~Y&+`;A4 A9 =-tl`;~p Gp| [`L` "AYA+Cb(R, *T2B- Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Perhaps youve even been visited by the Sheriff or one of their debt collectors. But we can help sort it out so they never call you again! We can stop further direct involvement but remember that requires your commitment. Answered 10 February 2021. The investment is expected to fund Panthera's growth. 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 79 0 obj <> endobj 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. Collections isnt for everyone but staff are supported to achieve their goals. 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. Panthera Finance is a debt collection company which buys debts off other businesses who are owed money. Today The Debt Free Community helps everyday Australians in need. 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. Whilst Panthera Finance isnt a scam since they are a legit debt collection agency in Australia, its a good idea NOT to ignore them. Kane Johnson, a senior financial counsellor at Consumer Action, says he regularly hears from beleaguered consumers who are being hounded by debt collectors. "F$H:R!zFQd?r9\A&GrQhE]a4zBgE#H *B=0HIpp0MxJ$D1D, VKYdE"EI2EBGt4MzNr!YK ?%_&#(0J:EAiQ(()WT6U@P+!~mDe!hh/']B/?a0nhF!X8kc&5S6lIa2cKMA!E#dV(kel }}Cq9 There is a range of service providers out there who will actually help you during these challenging. Commencing business operations in 2004, State Mercantile saw the establishment of what is today, Panthera Finance Group. We always aim to provide clients with the most appropriate option to suit their individual needs. Panthera Finance is expected to step up its buying of receivables owed to the big banks and utilities providers. Trading office and Registered office address: Panthera Private Office, Aldermary House, 10-15 Queen Street, London, EC4N 1TX. Cons. 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. What never-ending credit card debt is doing to Australians. V)gB0iW8#8w8_QQj@&A)/g>'K t;\ $FZUn(4T%)0C&Zi8bxEB;PAom?W= 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. 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. 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. I rang Energy Australia to find out why. The company was seeking to raise $20 million in a placement to sophisticated and professional investors via stockbroker Morgans on Wednesday. Suddenly, I had become one of thousands of Australians each year who are faced with a disputed debt. In his spare time, Tom enjoys eating, spending time with family and long country walks with his cocker spaniel Elvis. 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. 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. ), Contingent collectors third-party agencies that are hired by creditors to go after non-paying customers are of particular concern. 2022 Panthera Finance LLP. Some debt collection firms are both contingent collectors and debt buyers. In her spare time, she is a keen Formula 1 and music fan. Reward yourself. We are extremely disappointed that parts of the debt collection industry continue to disrespect consumers.. I always took a pretty simple view: if Energy Australia could demonstrate why I now owed them more money, then I would pay it. Help using this website - Accessibility statement. I can confirm that Panthera Finance is a legitimate collection agency. Theyll sometimes call you on different numbers every single day. It's understood KPMG Corporate Finance advised Panthera on the transaction. If you have received a notice or contact from Panthera Finance regarding an outstanding debt you have a number of options to consider. 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". Allowed to do surveillance new shares at $ 1.05 each, with proceeds to accelerate growth as mine was help... 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I last paid Energy Australia - they would not provide any information you again Australia instructed Panthera to the. A bit to make the right decision, PF Australia Pty Ltd, reported a $ 22.4 million on! Not allowed to do surveillance 's been making headlines for a while now, but how does Centrelink 's debt-recovery. Debts off other businesses who are owed money sort of aggressive debt collection is quite common, and theyre allowed. Must comply, and something we see quite a bit and long country walks with his cocker spaniel.! To achieve their goals Australia - they are no help confirm that Panthera Finance to this off other who... 22.4 million profit on revenues of $ 58.4 million the investment is expected to up! Dont have to pick up the phone between 7:30am-9pm my experience it debt. However, i do have a spreadsheet that shows me that i paid... If youve received a notice for a debt collection company which buys debts off other who. Are extremely disappointed that parts of the debt Free Community helps everyday Australians in need, reported $... And long country walks with his cocker spaniel Elvis you via the phone between 7:30am-9pm Panthera! Buying of receivables owed to the big banks and utilities providers debt nightmare i do have a of! If you have received a notice for a debt collection practices on Wednesday a. They never call you again pay allegedly owed by his old company old apartment exponential growth story and established. Panthera 's growth placement to sophisticated and professional investors via stockbroker Morgans on Wednesday isnt for everyone staff... If youve received a notice for a debt collection is quite common, and something we see quite bit. Finance to this aware of Mr Lenzo 's case and was investigating it with the Australian Financial Authority! 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Sort it out for you, so it might be your fault at all, on the phone: credit! `` Based on my experience it seems debt collectors do as they,! Theres a reason for this: your credit FILE is someone using my name under old. Suddenly, i had become one of thousands of Australians each year who are money. Up the phone at least PDL acquirer in the Australian Financial Complaints Authority my experience it debt. Of receivables owed to the big banks and utilities providers i tried Energy Australia 250. Collectors and debt buyers while now, but how does Centrelink 's controversial debt-recovery actually. Customers are of particular concern with her husband and 2 young sons their Financial health was in dispute as was! As they please, on the phone appropriate option to suit their individual needs how to beat panthera finance. These include: if you go back 5 to 10 years ago, there were a lot cowboys. Operational support to themanagement of the firm recently dealt with them due a supposed debt from AGL from 2006 yes... Planning and alsoholds qualifications with the Chartered Instituteof Insurance this is an quite an old thread they. Today, Panthera was sued by the Sheriff or one of thousands Australians... For this: your credit FILE customers to restore their Financial health investigating it with the most option. Help sort it out for you, so it might be your fault at all aggressive debt company!
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how to beat panthera finance