Debt collection in New Zealand: Considering the case for adoption of guidelines, modelled on Australian debt collection guidelines, to address poor conduct by debt collectors.

2021 ◽  
Author(s):  
Victoria Stace
Keyword(s):  
New Zealand ◽  
Debt Collectors ◽  
Debt Collection

scholarly journals Regulatory Arbitrage and Non-Judicial Debt Collection in Central and Eastern Europe - Tax Sheltering and Potential Money Laundering

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Catalin-Gabriel Stanescu ◽  
Camelia Bogdan
Keyword(s):  
Eastern Europe ◽  
Money Laundering ◽  
Central And Eastern Europe ◽  
Regulatory Arbitrage ◽  
Legal Provisions ◽  
Regulatory Standards ◽  
Debt Collectors ◽  
Illegal Activities ◽  
Collection Practices ◽  
Debt Collection

AbstractNon-judicial recovery of debts is now rampant in Central and Eastern Europe (CEE). The reason is two-fold. On the one hand, the significant number of defaults in the poorer areas of Europe makes the CEE region a very attractive market for debt-collection. On the other hand, the activity is almost entirely unregulated, especially regarding abusive debt collection practices. The CEE region still lacks mature, strong, and experienced supervisory agencies that could tackle borderline activities. This enables companies involved in debt collection to comply easily with the minimal legal provisions and to circumvent the actual purpose of the law, including through tax sheltering and money laundering. The main argument developed in the paper is that the debt collection system it is designed to maximize profits, minimize tax base and, potentially, can serve as money laundering mechanism. The system functions in a triadic relationship: the debt-seller (a credit institution), the debt-buyer (usually an investment company), and the debt-administrator (a debt-collection agency, either fully owned by, or under the control of the debt-buyer), where debt portfolios are purchased at huge discounts (varying between 90 and 95% of face value). By revealing the mechanism used by debt-collectors, the paper calls for legislative intervention to seal the gap and ensure adequate taxation of debt-collection activities. The nature of regulatory arbitrage involved relates both to tax law as well as to regulatory standards, such as licensing requirements. Debt buyers benefit from the EU passport rule, make high returns on their 'investments' and optimize their taxes on profits obtained. Debt administrators perform their activity at almost no liability and no tax payable to the state. This mechanism creates favorable premises for money laundering and financing of illegal activities, as the web of offshore companies behind the debt-buyer renders the verification of the origin of their investment money extremely difficult. Using Romania as a case study, the paper addresses not only the aforementioned practices and risks, but also the potential reasons behind the state's inability either to adopt adequate legislation, or to enforce it. In doing so, the paper employs empirical evidence regarding the activity of ten Romanian debt collection agencies and relevant case law thereof. The paper concludes with the authors' proposal for a potential solution, which can be extended beyond Romania.

scholarly journals Perbuatan Melawan Hukum Terhadap Tindak Pidana Pengambilan Benda Bergerak Sebagai Objek Pembiayaan Leasing

2020 ◽  
Vol 3 (1) ◽  
pp. 111-119
Author(s):  
Tito Alhafezt ◽  
Triono Eddy ◽  
Alpi Sahari
Keyword(s):  
Law Enforcement ◽  
Financial Institutions ◽  
Criminal Liability ◽  
Legal Certainty ◽  
Procedural Law ◽  
Debt Collectors ◽  
The Law ◽  
Notary Public ◽  
Debt Collection ◽  
The Right

The principle of the pacta sun servanda agreement stating that the agreement made by the parties to the agreement, will be the law for both, remains in force and becomes the main hope in the law of the agreement. But the agreement that provides fiduciary guarantees under the hand cannot be executed. The execution process must be carried out by submitting a lawsuit to the Negri Court through normal procedural law so that the court's ruling decreases. This paper aims to analyze or examine the legal arrangements for the taking of movable objects as objects of leasing financing and criminal liability for the actions of taking movable objects as objects of leasing financing. The results of this study indicate that criminal policies against financial institutions in the execution of fiduciary guarantees by debt collectors who have changed hands under the law number 42 of 199 concerning fiduciary guarantees to ensure legal certainty are made akata by the notary public and registered with the fiduciary office. Law enforcement against leasing parties in withdrawing fiduciary collateral by debt collectors based on law number 42 of 1999 concerning fiduciary explains that the right of execution is the authority of the court, not the authority of the seller of debt collection services that are usually leased by the leasing party.

scholarly journals Debt Collection Violations in Financial Technology in a Cyber-ethic and Legal Perspective

2021 ◽  
Vol 6 (1) ◽  
pp. 13-21
Author(s):  
Wawan Edi Prastiyo ◽  
I Dewa Made Suartha
Keyword(s):  
Financial Services ◽  
Personal Data ◽  
Literature Study ◽  
Business World ◽  
Legal Perspective ◽  
Debt Collectors ◽  
Psychological Pressure ◽  
Debt Collection ◽  
The One ◽  
Financial Technology

The presence of financial technology (Fintech) on the one hand makes it easy for people to obtain credit, while on the other hand, it creates various problems. In this study, two issues will be discussed, namely the application of cyber-ethic in protecting personal data and legal issues in collecting debt on Fintech. This research is a qualitative research. Data in the study were collected by means of literature study and presented descriptively and analytically. Cyber-ethic is implemented by protecting personal data. It is a transformation of traditional ethics in cyberspace. The cyber-ethic is very necessary in the business world. The application of cyber-ethic in the world of Fintech is carried out by protecting the personal data of both borrowers and third parties. Cyber-ethic violations have implications for breaking the law. Some of the billing violations on the Fintech business are sexual harassment, defamation, threats and stalking. Borrowing customers are powerless to face debt collectors’ behavior, because the debt collectors use the borrowers’ personal data to exert psychological pressure on the debtors to pay according to the bills determined unilaterally by Fintech. This condition usually occurs in illegal Fintechs that are not registered with the Financial Services Authority.

scholarly journals MANFAAT PEMBINAAN BAGI NARAPIDANA SAAT MENJALANI PIDANA PENJARA

to-ra ◽  
2018 ◽  
Vol 3 (3) ◽  
pp. 663
Author(s):  
Petrus Irwan Panjaitan
Keyword(s):  
Credit Card ◽  
Consumer Credit ◽  
Modern Society ◽  
Payment System ◽  
Credit Crunch ◽  
Credit Card Debt ◽  
Legal Certainty ◽  
Debt Collectors ◽  
The Law ◽  
Debt Collection

Abstract Consumer nancing business in the form of Credit Card as a form of less cash society is developing in Indonesia has even become a culture in modern society coupled with the support of fast payment system, safe, ef cient and reliable, smoothness in payment, providing legal certainty for the community in doing transaction, but consumer nance business though very attractive but does not mean this business has no risk at all, as credit giving, the risk will still exist at the time of stalled payment of credit card arrears by consumers. In the event of a consumer credit crunch, banks usually use debt collection services known as debt collectors. Often debt collectors in doing debt collection services work unprofessionally even sometimes tend to do acts against the law, so it will cause harm to customers and credit card issuing bank, because it is not in accordance with what is expected.     Keywords: payment system; Credit Card; debt collectors; accordance.

scholarly journals PERBUATAN MELAWAN HUKUM DALAM PENAGIHAN UTANG KARTU KREDIT OLEH DEBT COLLECTOR DAN PERTANGGUNGJAWABAN BANK

to-ra ◽  
2018 ◽  
Vol 3 (3) ◽  
pp. 653
Author(s):  
Nanin Koeswidi Astuti
Keyword(s):  
Credit Card ◽  
Consumer Credit ◽  
Modern Society ◽  
Payment System ◽  
Credit Crunch ◽  
Credit Card Debt ◽  
Legal Certainty ◽  
Debt Collectors ◽  
The Law ◽  
Debt Collection

Abstract Consumer nancing business in the form of Credit Card as a form of less cash society is developing in Indonesia has even become a culture in modern society coupled with the support of fast payment system, safe, ef cient and reliable, smoothness in payment, providing legal certainty for the community in doing transaction, but consumer nance business though very attractive but does not mean this business has no risk at all, as credit giving, the risk will still exist at the time of stalled payment of credit card arrears by consumers. In the event of a consumer credit crunch, banks usually use debt collection services known as debt collectors. Often debt collectors in doing debt collection services work unprofessionally even sometimes tend to do acts against the law, so it will cause harm to customers and credit card issuing bank, because it is not in accordance with what is expected.     Keywords: payment system; Credit Card; debt collectors; accordance.

Carrots or sticks in debt collection services? A voice metrics and text analysis of debt collection calls

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chengcheng Liao ◽  
Peiyuan Du ◽  
Yutao Yang ◽  
Ziyao Huang
Keyword(s):  
Language Processing ◽  
Financial Services ◽  
Black Box ◽  
Content Type ◽  
Phone Calls ◽  
Behavioral Mechanism ◽  
Repeated Calls ◽  
Textual Data ◽  
Debt Collectors ◽  
Debt Collection

PurposeAlthough phone calls are widely used by debt collection services to persuade delinquent customers to repay, few financial services studies have analyzed the unstructured voice and text data to investigate how debt collection call strategies drive customers to repay. Moreover, extant research opens the “black box” mainly through psychological theories without hard behavioral data of customers. The purpose of our study is to address this research gap.Design/methodology/approachThe authors randomly sampled 3,204 debt collection calls from a large consumer finance company in East Asia. To rule out alternative explanations for the findings, such as consumers' previous experience of being persuaded by debt collectors or repeated calls, the authors selected calls made to delinquent customers who had not been delinquent before and were being called by the company for the first time. The authors transformed the unstructured voice and textual data into structured data through automatic speech recognition (ASR), voice mining, natural language processing (NLP) and machine learning analyses.FindingsThe findings revealed that (1) both moral appeal (carrot) and social warning (stick) strategies decrease repayment time because they arouse mainly happy emotion and fear emotion, respectively; (2) the legal warning (stick) strategy backfires because of decreasing the happy emotion and triggering the anger emotion, which impedes customers' compliance; and (3) in contrast to traditional wisdom, the combination of carrot and stick fails to decrease the repayment time.Originality/valueThe findings provide a valuable and systematic understanding of the effect of carrot strategies, stick strategies and the combinations of them on repayment time. This study is among the first to empirically analyze the effectiveness of carrot strategies, stick strategies and their joint strategies on repayment time through unstructured vocal and textual data analysis. What's more, the previous studies open the “black box” through psychological mechanism. The authors firstly elucidate a behavioral mechanism for why consumers behave differently under varying debt collection strategies by utilizing ASR, NLP and vocal emotion analyses.

Magellanic Cloud Eclipsing Binaries: Primary Distance Indicators

1999 ◽  
Vol 190 ◽  
pp. 563-566
Author(s):  
J. D. Pritchard ◽  
W. Tobin ◽  
J. V. Clausen ◽  
E. F. Guinan ◽  
E. L. Fitzpatrick ◽  
...  
Keyword(s):  
New Zealand ◽  
Magellanic Cloud ◽  
Eclipsing Binaries ◽  
Fundamental Parameters ◽  
Distance Indicators

Our collaboration involves groups in Denmark, the U.S.A. Spain and of course New Zealand. Combining ground-based and satellite (IUEandHST) observations we aim to determine accurate and precise stellar fundamental parameters for the components of Magellanic Cloud Eclipsing Binaries as well as the distances to these systems and hence the parent galaxies themselves. This poster presents our latest progress.

Heat-Etching with a Bullivant Type II Simple Freeze-Cleave Device

1970 ◽  
Vol 28 ◽  
pp. 106-107 ◽  
Author(s):  
Ronald S. Weinstein ◽  
N. Scott McNutt
Keyword(s):  
New Zealand ◽  
General Hospital ◽  
Massachusetts General Hospital ◽  
Type I ◽  
Type Ii ◽  
Collaborative Effort ◽  
Temperature And Pressure ◽  
The University

The Type I simple cold block device was described by Bullivant and Ames in 1966 and represented the product of the first successful effort to simplify the equipment required to do sophisticated freeze-cleave techniques. Bullivant, Weinstein and Someda described the Type II device which is a modification of the Type I device and was developed as a collaborative effort at the Massachusetts General Hospital and the University of Auckland, New Zealand. The modifications reduced specimen contamination and provided controlled specimen warming for heat-etching of fracture faces. We have now tested the Mass. General Hospital version of the Type II device (called the “Type II-MGH device”) on a wide variety of biological specimens and have established temperature and pressure curves for routine heat-etching with the device.

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