Phone and internet customers reveal debt trouble with telco companies during pandemic

Phone and internet customers say they are being disconnected, harassed by debt collectors and generally treated harshly by their telco providers when they need help, negatively impacting mental health.

The Consumer Action Law Centre has released a report detailing stories of people struggling to pay their phone and internet bills, with some fearing homelessness due to losing their job during the pandemic.

Despite a federal moratorium on evictions and banks allowing mortgage repayments to be deferred during the pandemic, debt collectors have continued to contact telco customers demanding repayments.

James* was one of those customers.

The 23-year-old lives in Melbourne and identifies as Aboriginal. He’s studying for a Cert III and receives JobSeeker and the Mobility Allowance for his disability.

He was contacted by debt collectors for multiple debts, including for a buy-now-pay-later purchase, a payday loan, a consumer lease and a Telstra debt of nearly $3,000 from three years

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A Wild Week in China Roils Tech Stocks, Debt Markets, Hong Kong

(Bloomberg) — Chinese authorities moved on a number of fronts to rein in potential risks to the Communist Party’s rule, touching everything from tech firms to bond markets to political dissent in Hong Kong.

a view of a city next to a body of water: Views of Shanghai as IMF Says China's Complex Fiscal System Needs 'Crucial' Overhaul

© Bloomberg
Views of Shanghai as IMF Says China’s Complex Fiscal System Needs ‘Crucial’ Overhaul

The actions rattled markets as investors sought to grasp the rationale for the changes emanating from Beijing’s opaque corridors of power. They came shortly after the shock suspension of Ant Group Co.’s record-breaking $35 billion initial public offering.

Here’s a quick roundup of the latest developments:

Tech Crackdown

China’s State Administration for Market Regulation is a sleepy government bureaucracy essentially unknown outside the country. But on Tuesday morning, SAMR dropped 22 pages of dense regulatory proposals that wiped out $290 billion in market value and signaled the most sweeping overhaul of the country’s technology industry since the founding of the People’s

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Global Debt Collection Software Market Trends, Report Research, Top Key Players, Development, Growth, Share Forecast Till 2027

The MarketWatch News Department was not involved in the creation of this content.

Nov 11, 2020 (The Expresswire) —
Fortune Business Insights offers a detailed overview of the global market in a report, titledDebt Collection Software Market Insights is designed to streamline the debt recovery process that helps in smooth debt collection software market. It assists debt collector organizations in managing workflow, complying with government regulations and online payment collection. The debt collection software handles every step of the loan recovery process that starts with gathering complete data of borrower, send overdue invoice reminders, follow up with phone calls, and manage debt collection. It also helps banking organizations to improve their productivity by automating the complete work related to debt collection. Additionally, the increasing need to reduce time and cost associated with the manual debt recovery process among financial organizations as well as the growing need to provide customer-centric

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