I am almost too afraid to write anything about money and finance, knowing nothing much about them, and expecting the learned here to expose me for being economically challenged. Still, I do know that the ordinary people like me are suffering, and that the debt collectors just keep coming like those killer robots in the Terminator movies:
https://www.msn.com/en-au/money/personalfinance/debt-collectors-are-bankrupting-australians-over-small-credit-card-debts/ar-AAFHL22?ocid=NL_ENAU_A2_20190815_10_2
“Australians can be bankrupted over small debts
In Australia, an individual can be sued for bankruptcy for an unpaid debt of as little as $5,000. Last year, consumer advocates became increasingly alarmed by the number of clients being taken to court over relatively small debts by one company in particular — Lion Finance. They decided to do some research, analysing court lists over the past four years. Their data, released exclusively to the ABC, backed up their suspicions. "Lion Finance stands out as the debt collector using bankruptcy proceedings so much more frequently than any other debt collector in the market that it's absolutely astounding," Financial Rights Legal Centre's Karen Cox said. When it comes to the number of bankruptcy cases filed in the past financial year, Lion Finance was not far behind the Australian Tax Office (ATO). But while the ATO halved the number of people it sued for bankruptcy from 1,215 in the 2015-16 financial year to 543 in last financial year, Lion Finance increased its cases from 182 to 512 people in the same period. "Whereas most debt collectors ... have been using bankruptcy proceedings less and less, Lion Finance has been a growing user, the numbers of bankruptcies are just going through the roof," Ms Cox said. Ms Cox said bankruptcy would normally only be used if the debtor had an asset like a house. Lion Finance declined the ABC's request for an interview, but in a statement from its parent company Collection House Limited said it made every effort to avoid legal action. "We encourage customers to engage with us so we can discuss and assess their financial circumstances and avoid the legal process," it said.
