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Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44638
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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My question is hopefully rather simple, my credit card debt

Customer Question

Hi there!
My question is hopefully rather simple, my credit card debt has been sold to a third party company called Panthera Finance. I am wondering if they are legally allowed to continue to charge me interest on the card. As my account with the bank has been closed and the agreement has been finished.
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Evening,

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

Yes they can charge you interest it is part of the contract you entered at the beginning when you received the credit card.

They have the same rights as the bank.

There is a clause in the agreement that says that they can assign the debt and the conditions still apply.

All I can suggest is you try and reach an agreement and if you can pay them a lump sum see if they will agree to accept a lesser amount and finalise the debt. eg. if you owe $20K and have $12K to pay make the offer you have nothing to lose.

I hope this makes sense and is of assistance. If there is nothing further

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