Less than six months later, the company was sold for $40 million. It was started with the aim of helping everyone in dire straits. 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. Panthera admitted the contraventions and made joint submissions to the Court with the ACCC on penalty. 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. 10 online scams you need to know about. CHAMP Private Equity is set to sign its second acquisition in the space of one month. Panthera Finance LLP is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (www.fca.org.uk/register) under reference 951603. A starting point therefore would be to codify the guidelines.". 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. 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. 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. Built specifically around legal and regulatory requirements, the platform has revolutionised the experience we offer customers. Thanks - I tried Energy Australia - they are no help. When not being pestered by his children,Simon enjoys Tarantino movies, being a crackshot and cooking feasts. Today The Debt Free Community helps everyday Australians in need. 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. Theyll sometimes call you on different numbers every single day. See Panthera Finance salaries collected directly from employees and jobs on Indeed. "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. 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. The information contacting within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. Why not get your son contact the email given by Energy Australia? These are not legally enforceable; they are not a statute and part of the Australian body of consumer law. I tried to negotiate with them, but they would never accept what was being offered. The National Debt Helpline is always available on 1800 007 007. 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. Hi all, I just got a messaged today from Panthera Finance that I owe them over $1k but they mentioned a different name so technically I don't really owe them anything. And when contacted Energy Australi refuses to assist by providing any information. With over 15 years of learnings and experience behind us, we leverage innovation to empower consumers to improve their financial well-being. 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 company was seeking to raise $20 million in a placement to sophisticated and professional investors via stockbroker Morgans on Wednesday. Read more here. 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. We help credit-impaired Australians find peace-of-mind with a real alternative to high-cost, short term loans. 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. nQt}MA0alSx k&^>0|>_',G! Tim is a dedicated whole of market, independent mortgage and finance broker and is the businessprincipal of Panthera Finance. endstream endobj 83 0 obj <>stream When I used the contact information provided on their website, they ignored me and resent the same disputed invoice. endstream endobj 84 0 obj <>stream 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. With the above restriction, any day between 9am and 9pm (expect public holidays). Is this debt collection real? I didn't do anything to engage them or fail to fulfil an obligation, yet Panthera Finance forced me to deal with them because of their constant contact. But a few weeks later I received a bill for about $1,900. The attached document below contains the ACCCs initiating court documents in relation to this matter. Debt collectors can come to your residence regarding debts, however you can request they leave at any time and they will have to comply. Answered 10 February 2021. 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. Salary information comes from 42 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. Again, we dont charge anything upfront at all. Commencing business operations in 2004, State Mercantile saw the establishment of what is today, Panthera Finance Group. Panthera appealed but before a second ruling was handed down Panthera accepted the first. 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. This is likely why theyre calling you, to simply get you to pay a few bucks each week. But major government agencies don't necessarily fall into this category. ", Read more: V)gB0iW8#8w8_QQj@&A)/g>'K t;\ $FZUn(4T%)0C&Zi8bxEB;PAom?W= Panthera acknowledged this, but stated they were calling me for multiple debts and that I had mislead FOS by not disclosing this. When he tried to obtain information from Energy Australia they would not provide any details and instead referred him back to Panthera. Call Energy Aust first.. they are the ones with the power to get them to stop. w(Wg8aFV4K bW@H3=|MmV(@ AZ 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. Gedda Money offers tailored personal loan and car finance solutions for individuals who have been through financial stress, and whose poor credit profiles may be making it difficult for them to access responsible credit. We can help sort it out for you, so you dont have to pick up the phone. 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. 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 Yes, its true. When do debt collectors give up? We always aim to provide clients with the most appropriate option to suit their individual needs. Skipadee2 3 yr. ago. They can only contact you between 7:30am and 9pm on weekdays. Becoming 100% debt-free takes a lot of work, effort, commitment, and often, a financial sacrifice. Those letters, text messages and phone calls can be stopped within days. I plan on calling them tomorrow and finding out whats what, because I'm 95% certain I owe nothing. "I can't give you what you're asking," Mary told them. 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. 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. Some debt collection agencies have a poor record of adhering to consumer protection guidelines. We work hard to sort things out so the average Australian doesnt have to. There are no promises of success nor is there a magic bullet that will instantly get you out of debt. 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 79 0 obj <> endobj Read more: They hope that youll pick up the phone. ARL Collect was acquired by PF Group Holdings Pty Ltd in 2018. I received a bill for $1,900 that I never owed. That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. 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. Or is someone using my name under my old apartment? Finally, human resources software company LiveHire Ltd has joined the pre-Christmas rush for fresh funds. Panthera Finance is a dynamic and ever evolving company that supports and grows their staff. As part of this case, the Court has suppressed the names and details of consumers affected. Youre not allowed to be called more than 3 times per week, or 10 times per month. 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. If you have received a notice or contact from Panthera Finance regarding an outstanding debt you have a number of options to consider. Call before you pay!! 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. That same year, parent company, PF Australia Pty Ltd, reported a $22.4 million profit on revenues of $58.4 million. PDF 330.38 KB He is CeMAP qualified. Get the inside story on our investigations into consumer rip-offs and bad business practices. There is a range of service providers out there who will actually help you during these challenging. Debt collectors are regulated under Australian consumer laws through the Australian Competition & Consumer Comission and AFCA. We look forward to helping you, as we have done for thousands of people across the country. Force them to prove that: 1. Fantastic culture with great office perks and incentives. Find out more about fact-checking at CHOICE. Laura lives in Essex with her husband and 2 young sons. We understand the issues that youre going through. Consumer advocates say the case highlights an alarming trend. 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. Pros. This includes those in Melbourne, Sydney, Brisbane, Perth and Adelaide. ), Contingent collectors third-party agencies that are hired by creditors to go after non-paying customers are of particular concern. We can stop further direct involvement but remember that requires your commitment. Your reward doesn't need to be expensive, it just needs to be . "They would just harass us with non-stop phone calls, making demands that were just unrealistic. ", Read more: 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.. Beyond Debt is a trading name of DCS Group Aust. 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. CHOICE supports the First Nations people's Uluru Statement from the Heart. Pty. Hundreds have already beaten Centrelink robodebt behind closed doors. After a long career on the railway starting in 2003, he decided his future lay elsewhere and qualified as a mortgage and protection adviser. Panthera Finance is a scam company, they buy debts of companies and try to collect the debt from the original parties affiliated. Our 100% FREE quick phone call can help you learn more about this. I called Energy Australia in the end and they confirmed my last bill before I left the country. 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. . They must comply, and theyre not allowed to do surveillance. For example, a further advance from your existing lender or an unsecured loan (e.g., a personal loan). 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. Q But if not you can still work in the office. Lenders should be forced to reverse any adverse financial action taken against a client as a result of incorrect default credit listings. staff are welcoming and inclusive. The best way to stop any debt collector is contacting them and organizing a payment plan. By the end of this post, youll be well informed to make the right decision. Scammers are impersonating Panthera and are trying to trick you. It is also claimed in the alternative that Panthera breached the Australian Securities and Investment Commission Act by engaging in the same conduct. 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. He lives with his wife, two children and dog in Leigh-on-Sea.