Below are links to everything you need to know about debt collection compliance in one convenient place:
Contains the Australian Privacy Principles which must be adhered to by all companies.
Report 55 from the Australian Securities and Investments Commission attempts to clarify how each State and Territory in Australia regulate the collection of Statute-Barred debts. The PDF copy can be downloaded below for future reference.
Read the report from the ACCC which examines the debt collection industry. It's aim is to provide a greater insight and understanding of the industry.
The PDF copy can be downloaded below for future reference.
This guideline will help:
Debt Collection Guidelines February 2016 (1093 KB)
Department of Human Services guidelines for debtors and financial institutions pertaining to overdrawn savings accounts.
The Code sets out the banking industry's key commitments and obligations
to customers on standards of practice, disclosure and principles of
conduct for their banking services. The Code applies to personal and
small business bank customer
The code applies to just about every aspect of business including:
The Code among other things requires credit providers and credit reporting agencies to:
An external dispute resolution provider. The Credit and Investments Ombudsman operates under Terms of reference which can be found on its website.
The EFT Code sets out rules and procedures to govern the relationship between users and account institutions in electronic funds transfers involving electronic access to accounts and rules for consumer stored value facilities and stored value transactions.
An external dispute resolution provider. The Financial Ombudsman Service operates under Terms of Reference which can be found on its website.
A Code of Ethics adhered to by Financial Planners Association of Australia including integrity, objectivity, competence and fairness.
The Mortgage and Finance Association of Australian code of Practice provides professional standards that advocate ethical and fair business practices.
Provides 10 key promises that mutual members will deliver to always put their customers first.
The legislation surrounding Consumer Credit including requirements on the issue of Default Notices, Notices of Postponement, etc.