Coronavirus, Recession and Debt Collectors, what will happen?

Unfortunately we are heading for a ‘Once in a lifetime’ recession according to numerous banks and economists.

Australia is now forecast to suffer three consecutive quarters of retractions to its GDP, according to Westpac’s April market outlook released this week.

All by the coronavirus pandemic that has crippled the worlds economy and forced millions to lose their entire incomes.

We only have to look at every recession in recent times and it seems winners emerge not only unscathed, but a lot richer.

One of those sectors, is debt collection.

Banks are insured for their loses, so in in the GFC 2007, they began selling all their bad debt to debt collection agencies at absurdly cheap prices,

You will notice that nothing is being mentioned about protecting consumers from collection harassment, or orders to these companies too stall collection activities. Actually it is the opposite. They can freely continue court activities and pursuing consumers, they are debt collectors, not debt negotiators and they care not if you’ve lost your job, home and pet dog.

Given the household debt levels we have here in Australia, these companies are prepped and ready to increase productivity. Which is why you have to prepare for the fight now and beat them.

Until we have officially been announced as being in a recession, the fight will be easier. Once in a recession, it is the word used to excuse all behaviour and accepted as that.

So do not sit there and be bullied by a company that bought your debt for 10% and added 90% pure profit on top. Fight them legally and beat them.

UPDATE Click Link and read storyI have just beaten Lion Finance and CLH lawyers for a bullied consumer. $35,000 debt and they were threatening bankruptcy in court.Entire debt dismissed and credit file cleaned

Get rid of the Debt Collection companies before end of Lockdown

I first beat Lion Finance Debt 5 years ago, on a very large debt they said I owed. I spent 12months of researching commonwealth consumer protection laws and ACCC and ASIC guidelines. I decided to challenge them on 23 key points. I started this website to help people feeling trapped and bullied with nowhere to turn. I will gladly help you beat them too, send me an email using the ‘Contact Us‘ form on the right hand side of this page, tell me your situation and I’ll help as many people as I can, or simply Click Here