Panthera Finance: This must be one of the worst ways of making a return

Already a subscriber?The collapse into administration of Panthera Finance, one of the country’s largest debt collection groups, is a perfect opportunity to take a look at this sordid corner of the financial system, one that is becoming increasingly mainstream.

Either way, with Panthera now in administration – although the business and its subsidiaries are operating as usual, collecting debts – there is every chance Brookfield will end up with control. And that could mean using its enormous balance sheet to unleash a tsunami of high-interest debt to vulnerable borrowers.It is also in the business of handing out loans to, in its own words, “helping Australians within impaired credit”. Talk about complementary.

“Since 2009, Panthera has collected over $900 million of dishonoured debts purchased from banking & finance, utilities and telco vendors.” In all, Gedda had some $30 million of loans on its books with 1455 borrowers. The average balance was just over $20,000 and the largest was $55,259. The weighted average interest rate across the book? That was 26.3 per cent.The reviews are not good. As Daniel Friend, one customer, wrote: “Impossible to get a hold of and no easy way to make extra payments. Interest is high so be careful with that … given that the only way to manage the account is to contact them.

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Debt collection giant Panthera puts large parts of its business into administrationA Guardian Australia investigation has revealed Panthera had circumvented blacklisting designed to stop it operating in Victoria
ソース: GuardianAus - 🏆 1. / 98 続きを読む »

Kenya's President William Ruto withdraws finance bill after deadly riots across the countryPresident William Ruto says he will not sign the finance bill that would have seen taxes hiked across the country.
ソース: abcnews - 🏆 5. / 83 続きを読む »

Kenya protests: Ruto pulling the finance bill is unlikely to satisfy angry young protestersKenyans, particularly young ones, are fed up with rising prices as well as being ignored, of corruption and of the conspicuous consumption of politicians.
ソース: _TCglobal - 🏆 4. / 83 続きを読む »

US pledges to be a climate finance leader but defends gas expansionJohn Podesta, Biden’s top climate official, calls for other big economies to step in to help poorer states
ソース: GuardianAus - 🏆 1. / 98 続きを読む »

Kenyan President William Ruto withdraws controversial finance bill following violent protestsEscalating protests turned deadly when security forces fired teargas and live ammunition at protesters.
ソース: 9NewsAUS - 🏆 10. / 72 続きを読む »

Savvy spending hack praised by finance whizzAn Aussie mum’s simple trick to save money at the checkout has caught the eye of the Barefoot Investor Scott Pape.
ソース: SkyNewsAust - 🏆 7. / 78 続きを読む »