It was a very money-driven company, and the bonuses were very generous.
–Jenny, a former debt agreement company employee.
While the Banking Royal Commission has exposed a litany of unethical and fraudulent lending practices at financial institutions, the flipside of the coin is the debt help industry.
These are companies that are profiting by offering debt solutions or debt relief to money-stressed Australians. And thats a huge market. Personal debt has reached nearly $2.4 trillion nationally, or nearly $100,000 per Australian.
One way they do this is through whats known as a debt agreement. You might have seen the ads on TV or online they promise an easy way out of debt for those struggling.
These legally-binding agreements have some great …
Read the full article at: https://www.sbs.com.au/news/the-feed/big-debt-inside-the-industry-profiting-from-desperation
