Regulators in Australia investigate the debt collection industry

The Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC) have launched an investigation into the debt collection industry to learn how the industry functions. Both regulators are concerned about the dodgy practices of debt collectors in Australia. The ACCC will report its findings mid-2015. Read more.. Source: Government News,…

ATO cops criticism for seeking external debt collection help – Accountants daily

The Australian Tax Office (ATO) has come under fire from a union official for expressing interest in sourcing private debt collection agencies. The ATO is seeking to reduce Commonwealth debts, strategies to prevent future debts and deliver services nation wide. The union official has been quoted saying these private collection companies will not be covered…

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Debt Collection goes hi-tech

Debt Collection agencies and lenders are now using hi tech methods for debt collection. It may sound like science fiction, but some companies can disable a borrower’s car with the click of a button on a screen. Car ignition interrupt devices are the newest high-tech tool that debt collectors use in their information war against…