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Tag: debt vultures

You are here:  HomeConsumer Action Law Centre  ⁄  News  ⁄  debt vultures

ASIC action against debt vulture preying on people in financial hardship welcomed

Consumer Action Law Centre has welcomed news that corporate watchdog the Australian Securities and Investments Commission (ASIC) is taking legal action against Bakken Holdings Pty Ltd, also known as S...
August 10, 2023

ASIC must reject licence applications from predatory debt vultures

Consumer Action has welcomed the news that Federal Treasurer Josh Frydenberg MP has made new regulations requiring debt management firms – also known as ‘debt vultures’ – to be licenced to provide ser...
May 4, 2021

Consumer groups support licensing of ‘debt vultures’ but reforms must go further to stop the harm 

While some businesses stepped up to help Australians to recover from the COVID-19 crisis, others sought to profit from people’s desperate financial circumstances. Unregulated debt management firms ...
February 16, 2021

Licensing debt management firms: Exposure draft regulations

While some businesses stepped up to help Australians to recover from the COVID-19 crisis, others have simply sought to profit from people’s desperate financial circumstances. Debt management firms(...
February 16, 2021

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