Dodgy debt collectors preying on vulnerable Aussies

Friday 15 May 2009

Article by Mozo

The number of dodgy debt collectors preying on struggling consumers has grown dramatically since the start of the downturn,

The Australian Competition and Consumer Commission (ACCC) will be clamping down on dodgy debt collectors after research showed that there has been a rise in the number of people chasing up missed home loan, credit card and personal loan payments.

Giving a speech on Thursday (May 14th), the group’s chairman Graeme Samuel said that while those with credit card, home loan and personal loan debt need to be held to account, collectors need to give due regard to their dignity.

The Herald Sun reported that the group has found evidence that unscrupulous debt collectors have been telling poor families to eat less, quit smoking and live in cheaper houses in order to clear their debts.

The ACCC also announced that while the number of people complaining about debt collection practices is low, the severity of some of the complaints that have been receive warrant a thorough investigation into the issue.

It added that many people may be unaware that they have a right to complain about debt collectors.

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