Debt collection

ASIC and ACCC sign new MOU

A new agreement covering liaison, cooperation, assistance, joint enquiries and exchange of confidential information arrangements has been signed by the Australian Securities and Investment Commission and the Australian Competition and Consumer Commission.

The new Memorandum of Understanding (MOU) updates the existing MOU that has been in place since 1998. It reflects the close working relationship the two agencies have developed.

Debt collection

Debt collection occurs when creditors and collectors seek to secure payment from consumers or businesses who are legally bound to pay or to repay money they owe. It is important that any organisation involved in recovering debt is aware of its legal obligations.