There has been widespread reporting of European economic problems. Government solvency issues in Greece, Spain, Portugal and Italy have threatened the continuity of the Euro currency and the EC. Major French and German banks are heavily exposed to this and the flow on effects of a deep European recession has caused European business...
Read more >September Quarter 2011 Outlook
- Sales expectations are down four points to an index of ten, the lowest of the last eight quarters and three points below the ten year average index of thirteen
- A decrease of ten points has taken the profits expectations index to negative two, eight points the ten year...
Released on 13th July 2011, the Westpac-Melbourne Institute Index of Consumer Sentiment fell 8.3 per cent in July to 92.8, from 101.2 in June. The survey came as Australian shares gained a quarter of a per cent, led by gold miners, after metal prices rose overnight, despite US and European stocks falling again. For the first time...
Read more >World Credit Congress, 17/03/11
International Collections Manager (ICM) and the Institute of Mercantile Agents (IMA) announce that for the third time the international community of credit and collections professionals will meet around the 3rd World Credit Congress and Exhibition (WCCE) in Sydney, Australia from 19 to 21...
Read more >1st October 2010 - Mercury Collections would like to congratulate the Gracie Oceania Brazilian Jiu-Jitsu team on their recent success at the 2010 Asian Cup. The team won 3 Gold, 1 Silver and 3 Bronze medals at the highly competitive event that drew competitors from the whole Asia Pacific Region.
Read more >September forecast. (Debt recovery)
Increased demand for commercial debt collection is being forecast for the September to December quarter as a result of slowing commercial payments. European and North American recessions have seen large increases in international debt collection agency activity. The sixth straight year...
Read more >Amendments to the Bankruptcy Act 1966
The Insolvency and Trustee Service of Australia (ITSA) has announced effective from 11th August 2010 that the threshold for a bankruptcy notice and the presentation of a creditor's petition is to be raised from a minimum of $2000.00 to $5000.00.
Comment: The Federal attorney...
Recent reports reveal that over 50 000 consumers in New South Wales are currently on bill extensions and payment plans with their energy providers, and over 10 000 more have had their supply cut off. These figures are only due to worsen with predictions of further substantial rises expected over the next three years.
Sydney...
Read more >In 2008, the Council of Australian Governments agreed that the Commonwealth Government should take over responsibility for the regulation of consumer credit. ASIC will become the national regulator for consumer credit.
This means that home loans, personal loans, credit card, consumer leases, overdrafts and mortgage and...
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