Commercial Loan v Consumer Loan   In Australia, commercial loans and consumer loans are two distinct types of financial arrangements, each designed for different purposes and regulated differently. The main differences between these two types of loans are as follows: 1. Purpose: • Commercial Loan: Commercial loans are typically intended for business purposes. They are used by businesses to fund various needs, such as working capital, purchasing commercial real estate, acquiring equipment, or expanding operations. • Consumer Loan: Consumer loans are primarily meant for personal use by individuals. Consumers use them to finance personal expenses, such as buying a car, home renovations, paying for

The recent voluntary appointment of administrators at the debt collector Collection House should serve as a warning to debt collection firms that still push the boundaries of the guidelines and legislation that govern the industry.   Last week Collection House appointed FTI Consulting as voluntary administrators to develop a plan to save the business which was discredited by a 2019 report prepared by Financial Counselling Australia, Consumer Action Law Centre and Financial Rights Legal Centre.   The report highlighted Collection House and subsidiary Lion Finance as the debt collection agency with the highest number of court applications to put vulnerable debtors into bankruptcy.     The 2019