Better redress and procedures for debtors.

0 Comments | M2 Presswire, August, 2005

M2 PRESSWIRE-18 August 2005-ACCC: Better redress and procedures for debtors(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:18082005 Better redress and procedures for debtors in relation to factored debt will ensue following the Australian Competition and Consumer Commission's inquiries into complaints about Alliance Factoring's debt collection practices and procedures.

Debt factoring is where a debt collection company will purchase debts owed to third parties to collect on its own account. The ACCC was concerned that Alliance had engaged in misleading and deceptive conduct and undue harassment and coercion in relation to its debt collection practices in attempting to recover Telstra debts it purchased in 2002 and 2003. After the ACCC raised its concerns that...