The stereotyped tax collectors of the old are now felt as the debt collectors of today. And in the eyes of the unpaying debtor they are the minions of large corporations that take away their money. Regardless of public opinion, a recent study shows that there is an increase in the activity of debt collectors and a growing debt collection industry. Australians in financial stress are mostly the target of being hounded by these debt collectors, 65 million times per year as statics says. Some even say it is a form of harassment, misleading the credit users about information regarding the status of their credit report. Furthermore, there are businesses who claim to be credit repairers who use this situation to prey on the vulnerable by charging them hundreds of dollars when it fact it can be done for a lower cost or in some cases free of charge.

Debt Collectors and the Debt Collection Industry

In the side of the debt collection industry, they argue that they receive little complaints from their customers implying that their services and their current actions are just. The chief executive of the Australian Collectors and Debt Buyers Association defended the industry saying that the vast majority of complaints have no factual basis. When a complaint has been investigated, the debt collectors are usually found not having engaged in any unscrupulous or unreasonable behavior. However, it is also noteworthy to highlight the recent survey conducted by the Government News stating that one-third of complaints about debt collection relates to harassment and coercion from collectors and creditors. The second would be related to misleading or deceptive conduct. No matter how you look at it debt collection is a legal process and the only way you can avoid this is to make sure there’s nothing for them to collect from you.

Regardless which of these two sides is right, the only thing you can control is your finances. If you no longer have the ability to make repayments and are tired of the debt collectors, you can consult with Australian Debt Agreements. Check in to see if a debt agreement is the right way to go. Australian Debt Agreements prides itself on the professional and committed service it provides to its customers. We offer assistance to those struggling with their finances. If you are wondering will it be safe to work with us? Wipe your worries away, the Australian Debt Agreements is regulated by the Australian Financial Security Authority and undergo regular audits conducted by AFSA representatives. With our credentials we will make sure that your best interest is our interest.