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Be Invincible to Debt Collectors

Creditors are known to be inventive when recovering their money, but the Australian law interdicts them to use misleading actions and words, to harass or coerce you, and act unconscionably towards you to accomplish their goal. Your legal rights under the Australian Consumer Law (ACL) protect businesses against aggressive creditors or collectors that might want to take unfair advantage of you. The ACL which is a cooperative reform of the Australian Government and the States and Territories, through the Ministerial Council on Consumer Affairs (MCCA) and it also ensures that this type of conduct is not tolerable towards your family members, partner or anyone else connected with you. However, there are some actions that a creditor has every right to undertake such as issuing a statutory demand, a statement of claim and judgment, a notice of winding up, a garnishee, a director penalty notice and use debt collectors as long as they do not use coercive methods.

If you are in debt and you feel that creditors are not proceeding according to the law, you can ask the help of a professional counseling company. In the worst case scenario, you will face liquidation, but you will at least be able to shake off the creditors after the company becomes insolvent. You should know your rights to make sure you will be able to recover and pay off your debts. There are many things you can use into your advantage when you feel harassed by debt collectors. For instance, you should know that in Australia a debt collector should only contact you for reasonable purposes such as demanding payment, reviewing payments plans, inspecting or recovering mortgaged goods. More than three phone calls or e-mails per week are also considered unacceptable. The ACL revised the protection of businesses in the State and Territory fair trading laws and in the Trade Practices Act 1974 (TPA). This law is enforced by two establishments: the ACCC and the State and Territory consumer protection agency.