Ombudsman comments on Debt Collection Guidelines

The Banking and Financial Services Ombudsman has issued a Bulletin discussing the new Debt Collection Guideline for Collectors and Creditors, recently released by the Australian Competition &Consumer Commission (‘ACCC’) and the Australian Securities & Investments Commission (‘ASIC’).

Although it will not necessarily determine the outcome in any particular case, the Ombudsman will take the Guideline into account when considering disputes about debt collection matters and will take into account the various consumer protection laws and decided cases referred to in it.

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