Can Financial WizKids Explain-Justify Credit Corps' Actions? 6th Sept 2020: Credit Corp (ASX:CCP) Is Aussie's No # 1 Debt Collector! MC= $1.26bn. Some Loot...Or Looting! Here's My Conundrum:
CCP under investigation by Financial Ombudsman since Mid-2019. Here's CCP-AFCA's "Dope":
1. e.g. Credit Card xxxx645: * 5/12/2015: Westpac broke contracts-agreement when it sold debt (money changed hands) to Credit Corp * 5/1/2016: Victims notified Credit Corp & Westpac Bank they was acting illegally; acknowledged, yet… “ the AFCA panel considers company A (Credit Corp) should have stopped all debt collection activity after it was first contacted by Mr S on 5 January 2016.” *Mar 2016: Westpac informed customers it had repurchased debt. This was a lie, deceitful, unconscionable conduct. For over 3 years, this debt was still on Credit Corp books, owned & actively & aggressively pursued via RoboDebt calls etc. * Feb 2019: Westpac bought back debt (money changed hands) from Credit Corp * March 2019: Complainants notified
3 years+ debt was on Credit Corp books! How's it possible Credit Corp was deemed not responsible? Common practice?
2. CCP Extortion Of Financial Ombudsman. See CCP Letter of 31st July 2020 to "Independent" Consumer Financial Ombudsman, AFCA
It Gets Worse...
CCP Price at posting:
$18.65 Sentiment: None Disclosure: Not Held
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