But they never imagined a debt management company would be the opportunity they were looking for. "I think the big challenge was you go home to your partner and say we are buying a debt collection company and they were like 'you're what?'" A debt collection agency typically works on behalf of another company and charges fees on top of the debt to pay for its service. "By owning the debt it really allows us to invest behind the customer over a really long period of time." Baycorp - the name most Kiwis would link to debt collection - was bought out by Australia's Credit Corp Group in 2019.

Source: New Zealand Herald June 18, 2022 06:13 UTC