Debt collectors face complaints over intimidation practices

Many people have reported problems with debt collectors over the past year. The concerns include stories of intimidation and pressure when trying to collect debts. Financial mentors have called for a review of the Fair Trading Act. They say debtors often feel vulnerable and need more protection. Jake Lilley from FinCap mentioned that current laws allow the regulator to take action, but it can be difficult to stop bad practices. People facing debt collection are often struggling financially. They may receive repeated calls or visits at their friends' or family's homes. Lilley suggested that there should be options for lower payments and better guidelines on acceptable behaviors for debt collectors. The Commerce Commission has received 208 reports related to debt collection issues in the last year. The commission states that debt collectors must not mislead or harass anyone. They have taken legal action against those who break the rules and are committed to protecting vulnerable consumers. They aim to ensure fair trading and consumer safety in the market.