If you are being chased by ArcMercantile for an old debt, or have many debts and are being constantly hassled by them daily, here is what they do not want you to know.
Here in Australia we have about 6 main debt collecting agencies and lots of smaller ones around different states. They work by buying in bulk debts from Banks, Telcos, Credit Card Companies etc. Now if you owed a bank $10,000 for a personal loan and did not pay them back, after a certain amount of time the bank gives up chasing you and it all goes quiet. Then out of the blue, you have a debt collecting company like Credit Corp or Baycorp contacting you by phone or letter.
They will add onto your outstanding debt, interest and charges, these grow as time goes on. However, they also escalate their methods for chasing you to pay. A few phone calls on your mobile turns into them locating your work number and calling that, knocking on your neighbours doors or worse. It is about psychological harassment, forcing you into paying or suffering stress.
Chased by ArcMercantile
The reality, is they bought your debt for around 10%, there are no charges or interest, they just add that on for more profit and their entire business model is about paying their employees on a commission basis. A huge room with 100’s of telesales muppets using a script, using fake job titles to call and get you to pay, depending how much you pay they get commission. With weekly targets that if they fail to meet consistently result in them getting sacked. So you can imagine now in this toxic environment of debt collecting, everything is one big facade.
The problem however is that they are regulated and protected, so even with all this public information surrounding their practices, they have the power to take you to court and garnish your salary, force you into bankruptcy or seize your assets if you do not pay them back!
Over 4 years ago and being chased by 2 of the largest, I decided to research the law and entire practice of debt collecting. How can it be legal to purchase a $10,000 debt for $1,000 then add on charges making it $14,000 and bully you even at your own workplace to get paid? So after spending my evenings and weekends reading and acquiring all governance, legislation surrounding the industry in Australia, I took the largest one to court. There are several key points of failure I challenged them on and after inviting them to go public with answers, they backed out and wrote off the debt. So now I help as many as I can in similar situations to fight them, I am up to over 2000 people helped and with enough names want to bring a public review of the entire industry across our country. For the last 4 years they have been trying to take down this website…….they have still not succeeded.
Some key points to start though, do not ever speak to them, going through their security is an admission of debt legally. Do not email them either, it wont go to a person as those letters are automated and sent in bulk.
Ill help you if you are being Chased by ArcMercantile
If you need help no matter the situation, use the ‘ Contact Us’ now form on the right hand side and send me a list of who you owe and how much, from there I can help you depending on what company you owe or who is chasing you.