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 and the Australian Securities and Investments Commission.
More than 50 submissions, including many detailed and useful comments, were received about the first draft.
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.
Stakeholder comments are sought on the additional content and changes made to the guideline, including any new implementation issues posed by the revised draft.
The consultation draft and discussion paper are available on the ACCC and ASIC websites. Details on how to lodge a submission are contained in the discussion paper.
Submissions in response to the first consultation draft issued in February (when permission to publish was given) are available on the ASIC and ACCC websites. Submissions in response to the current draft will also be published on these sites, again subject to the agreement of those making the submission.
The final version of the guideline is expected to be released by early October 2005. A brochure on consumers' rights and responsibilities in the debt collection context will also be released at the same time.
Stakeholders are requested to lodge submissions on the draft by 5 pm Friday 29 July 2005.