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The word, Prospa (misspelled), doesn’t mean that you prosper. It means that they do.

There are always winners and losers, and if you are a borrower from Prospa, the chances are that you will be a loser – firstly, if you are contacting Prospa, you are already in trouble and your company might be insolvent already. Otherwise, why not go to your bank for a credit card (or increased limit)?

Did you suffer or prosper after taking a loan from Prospa?

The word, Prospa (misspelled), doesn’t mean that you prosper. It means that they do.

There are always winners and losers, and if you are a borrower from Prospa, the chances are that you will be a loser – firstly, if you are contacting Prospa, you are already in trouble and your company might be insolvent already. Otherwise, why not go to your bank for a credit card (or increased limit)?

They only want to know your business turnover and whether you own real estate. That should sound warning bells.

Business turnover is not business profit. If they are not seeking security over your house, what difference does it make whether you own a home or not?

They only want to know your business turnover and whether you own real estate. That should sound warning bells.

Business turnover is not business profit. If they are not seeking security over your house, what difference does it make whether you own a home or not?

They assign your debt to a company of mates, and their mates are also their lawyers.

They slap a caveat on your house (even though they told you at the beginning that it would never happen). This happens even if you own the property with your partner and he or she signed nothing.

They slap charges on you of $10 a day, plus $35 a week, plus default interest, which accumulates exponentially. You get blacklisted with credit reference agencies – they obtain a default judgment in court. If you are in business, as you were meant to be to get the loan, you can no longer get credit from your suppliers. This kills your cashflow because you have nothing to sell.

rs CLASS PR PROPSA 1 WEB 2022
They assign your debt to a company of mates, and their mates are also their lawyers.

They slap a caveat on your house (even though they told you at the beginning that it would never happen). This happens even if you own the property with your partner and he or she signed nothing.

They slap charges on you of $10 a day, plus $35 a week, plus default interest, which accumulates exponentially. You get blacklisted with credit reference agencies – they obtain a default judgment in court. If you are in business, as you were meant to be to get the loan, you can no longer get credit from your suppliers. This kills your cashflow because you have nothing to sell.

Initially, they are keen to keep on lending to you, just to make sure that you cannot swim your way out of it – and then, when you’re up to your neck in debt, you cannot negotiate out of it. Why not?

Some of you stand to lose your houses as you can no longer pay your mortgage, and your business, even things had been tough, still had a value which has been damaged if not destroyed through the “Prospa Experience”. Your family members, staff and suppliers are receiving unwanted calls or visits from debt collectors.

They assign your debt to a company of mates, and their mates are also their lawyers.

They slap a caveat on your house (even though they told you at the beginning that it would never happen). This happens even if you own the property with your partner and he or she signed nothing.

They slap charges on you of $10 a day, plus $35 a week, plus default interest, which accumulates exponentially. You get blacklisted with credit reference agencies – they obtain a default judgment in court. If you are in business, as you were meant to be to get the loan, you can no longer get credit from your suppliers. This kills your cashflow because you have nothing to sell.

Initially, they are keen to keep on lending to you, just to make sure that you cannot swim your way out of it – and then, when you’re up to your neck in debt, you cannot negotiate out of it. Why not?

Some of you stand to lose your houses as you can no longer pay your mortgage, and your business, even things had been tough, still had a value which has been damaged if not destroyed through the “Prospa Experience”. Your family members, staff and suppliers are receiving unwanted calls or visits from debt collectors.

What was worse, this or Covid 19? Unlike Covid 19, Prospa does not mutate, it is a sitting duck for a class action we are planning.

The losses you have suffered are not confined to huge interest rates and charges but there is also the other damage, which many of you can claim, concerning loss of business, loss of business opportunity, a blackened credit rating and in some cases, the loss of your home- and more.

There are only three parties apart from you – Prospa, DebtCo, and Francom – but they are the only one’s partying, not you. In Western Australia, there might be a stand-in from Francom.

rs CLASS PR PROPSA 2 WEB 2022
What was worse, this or Covid 19? Unlike Covid 19, Prospa does not mutate, it is a sitting duck for a class action we are planning.

The losses you have suffered are not confined to huge interest rates and charges but there is also the other damage, which many of you can claim, concerning loss of business, loss of business opportunity, a blackened credit rating and in some cases, the loss of your home- and more.

There are only three parties apart from you – Prospa, DebtCo, and Francom – but they are the only one’s partying, not you. In Western Australia, there might be a stand-in from Francom.

Ok, what next?

Work with us to turn back the high tide of debt and register with Class PR today. (The class action – if it commences – will be run on a “no win, no fee” basis as it will be fully-funded by a third-party litigation funder.

Ok, what next?

Work with us to turn back the high tide of debt and register with Class PR today. (The class action – if it commences – will be run on a “no win, no fee” basis as it will be fully-funded by a third-party litigation funder.

If you have taken out a loan with Prospa, and believe you have received unfair loan terms, please register your details.

A consultant will be in touch with more information on the action. We are gathering group members with the aim of pursuing a class action against Prospa.

Speak to a consultant to find out more about the
proposed proceedings against Prospa.
If you have taken out a loan with Prospa, and believe you have received unfair loan terms, please register your details.

A consultant will be in touch with more information on the action. We are gathering group members with the aim of pursuing a class action against Prospa.

Speak to a consultant to find out more about the proposed proceedings against Prospa.