ACCC and ASIC revises debt collection guideline

The Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC)  issued a revised debt collection guideline after consulting with key consumer representatives. The revised guideline will further assist creditors, collectors and debtors in understanding what their rights and obligations are. Among other revisions, it provides guidance on the appropriate methods of contact and potential pitfalls to avoid when using new technology, such as social media platforms.

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Michael Duncan