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“This is leading to a huge number of complaints about these businesses.
Something needs to be done at a legislative level to ensure that these business are regulated appropriately.” The Your Financial Rights video can be seen at you can follow the campaign on: @Fin_Rights_CLChttps://twitter.com/Fin_Rights_CLC If you have financial problems call the Credit & Debt Hotline 1800 007 007 or ICAN on 1300 369 878.
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“These companies may look like simple, helpful options for people experiencing financial stress, but often they make things worse through high fees, ill-suited advice or questionable business practices. What’s worse is that they prey on those who can least afford it.” Debt management firms include: A report by the Australian Securities and Investments Commission (ASIC) released earlier this year found that there is “no uniform regulatory framework for debt management firms”.
“ASIC’s report confirmed that these predatory businesses use high pressure sales techniques and sell unsuitable products,” said Financial Rights’ Ms Kelly.
” This is the central question posed in a new “debt dating” video launched earlier this month at
The video follows the pitfalls many Australians face when looking for help with their financial problems.
I like to make the most of my weekends There's a good chance you might ..The video and accompanying website are part of a new financial literacy campaign aimed at steering consumers away from “Debt Management Firms,” otherwise known as Debt Vultures, towards free and independent financial counselling services.“Anyone who has watched late night TV, listened to commercial radio or typed “debt help” into Google have seen the flood of ads for these financial predators,” said Alexandra Kelly, Principal Solicitor of the Financial Rights Legal Centre.Holden CRUZE JG CDX SEDAN – top spec model, Grey, Build date 10/2009 Compliance date 11/2009 1.8 litre, 4 cylinder petrol engine, 5 speed manual, Odometer 150064k M Leather upholstery, Heated front seats 17 inch alloys Fog lights 6 speaker CD system All in Great condition Matte Black 2017 Model Yamaha MT-09.Liquid cooled 4 Stroke 3 Cylinder Engine Electric Starting System 6 Speed Bought brand new only owner Has done 4775km to date.