Stay Compliant with DebtCol
DebtCol incorporate compliance tools to assist your business stay compliantBack to news
The Australian Competition & Consumer Commission (ACCC) and Australian Securities & Investments Commission (ASIC) have produced a Debt collection guideline for Collectors and Creditors (the guidelines) to assist debt collectors in carrying out debt collection activities in accordance with various laws.
Part 5 (c) of the guidelines refers to the frequency of contact, noting that it is recommended that you do not contact a debtor more than three times a week or ten (10) times per month.
DebtCol Software has developed logic within its debt collection software system to assist businesses to comply with this recommendation. Set the desired contact limit that will force locks on cases to prevent any further action on a case where contact would be made. For example, once a case has reached the desired number of contacts, a lock is placed on the case, and an operator cannot send an email, SMS, cause to be posted a letter or make a telephone call.
These limits can be set across the entire client base or on a client-by-client basis.
This logic is one of many compliances features now available within our software system and further demonstrates our commitment to best practice solutions for the Australian debt recovery industry.
If you would like an obligation free demonstration of our software system, please contact our sales team at firstname.lastname@example.org.
Try our system and see how it can help you to collect debts more effectively
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