A second draft of the guideline on consumer protection laws for those involved in the debt collection industry has been issued by the Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC).
In light of the submissions received, ASIC and the ACCC have decided to undertake a further round of consultations before finalising the guideline.
New or revised content in the guideline includes:
- the privacy obligations of debt collectors – developed in conjunction with the Commonwealth Office of the Privacy Commissioner
- contact following bankruptcy – developed in conjunction with the Insolvency Trustee Service Australia
- dealing with debtors at a special disadvantage, and
- dispute resolution.