Public sector âkeeps tight leashâ on debt chasing
Save
Share
The public sector is keeping a tight leash on debt chasers trying to regather money that people owe, according to one of the largest sector operators.
Brisbane-based Collection House said the restrictions had continued as people receive hardship assistance during the COVID-19 pandemiaid.
Collection House says public sector is being hands off with debt collection. Â
Robert Rough
It blamed a sharp fall in commission revenues on client companies, which range from banks to utilities to the Australian Taxation Office to local government agencies, continuing to âbe conservative around collection activityâ.
Collection House board stands firm after lifeline hit
Share
The board of troubled debt-chasing outfit Collection House is standing firm after it sold off a chunk of its assets to industry rival Credit Corp in a cut-price deal.
The $160 million sale of ledgers – bundles of debt purchased from institutions such as banks – means Brisbane-based Collection House will now book a loss of $145.1 million for the past financial year.
Collection House has grasped a lifeline by selling key assets.
Jessica Shapiro
But it also provides a lifeline of cash to recapitalise Collection House, whose auditors, in accounts filed on Christmas Eve, warned of significant uncertainty about the 920-staff operation continuing as a going concern.