Glossary

Debt-recovery glossary.

Australian debt-recovery, accounts-receivable, and credit-reporting terms — defined in plain English with the regulators they reference.

ACCC: The Australian Competition and Consumer Commission. Co-regulator (with ASIC) of debt-collection conduct under the joint Debt Collection Guideline. Acts on misleading or unconscionable conduct in collection. See also: ASIC, Debt Collection Guideline
ACCC/ASIC Debt Collection Guideline: Joint document setting conduct standards for Australian debt collection — contact frequency, tone, hardship handling, dispute resolution. Applies to creditors, agents, and platforms. See also: ACCC, ASIC
ACL (Australian Credit Licence): ASIC-issued licence required to engage in consumer credit activity in Australia. Adeva Pro operates under ACL #487123.
AFCA: The Australian Financial Complaints Authority — free, independent, ombudsman-style scheme for resolving complaints about financial firms including debt collectors. Decisions are binding on the firm but not the consumer. See also: Internal complaint, ASIC
AHPRA: Australian Health Practitioner Regulation Agency. Relevant to healthcare-debt recovery: recovery conduct must not breach professional-conduct standards for the practitioner.
Agribusiness: Farming, livestock, and rural-supply businesses. In recovery context, characterised by seasonal cash flow and the social-relationship reality of small rural communities.
ASIC: The Australian Securities and Investments Commission. Regulator of credit conduct and the issuer of Australian Credit Licences. Co-issuer (with ACCC) of the Debt Collection Guideline. See also: ACCC, ACL
BECS (direct debit): The Bulk Electronic Clearing System used for direct-debit payments in Australia. Useful for long-running payment plans because it doesn't expire like cards. See also: Direct debit, NPP
CAV (Consumer Affairs Victoria): Victorian state consumer-protection body. Handles complaints about debt-collection conduct in Victoria, separately from the AFCA pathway.
CRICOS: Commonwealth Register of Institutions and Courses for Overseas Students. Education providers on CRICOS must comply with the ESOS Act, which constrains debt-recovery activity against international students. See also: ESOS Act
Contingency-only pricing: A debt-recovery pricing model where the recovery provider charges a percentage of recovered amounts, and only if recovery succeeds. Adeva Pro operates contingency-only. See also: Recovery rate
Default listing: An entry on a credit reporting body's file showing an unpaid debt of $150+, more than 60 days overdue, with two written notifications. Stays on file for 5 years. See also: Credit reporting
Direct debit: A pull-payment authorisation against a bank account, processed via BECS or NPP. Common for long payment plans because it doesn't expire. See also: BECS, NPP
DSO (Days Sales Outstanding): Average number of days between invoicing and payment. The headline AR metric. Calculated as (Accounts Receivable / Total Credit Sales) × Number of Days.
Dunning: Automated retry/notification sequence when a recurring payment fails. Common in SaaS and subscription billing. Involuntary churn often stems from dunning failure rather than active cancellation.
ESOS Act: The Education Services for Overseas Students Act 2000. Sets student-protection rules that constrain how international-student debts can be pursued. See also: CRICOS
Hardship arrangement: A documented variation to a debt arrangement made because the debtor genuinely cannot meet the original terms. Collection activity must pause during hardship review. See also: ACCC/ASIC Guideline
Internal complaint: A complaint to the financial firm's own resolutions team. The first step in any escalation pathway, before AFCA. See also: AFCA
NCAT: NSW Civil and Administrative Tribunal. Forum for debt and tenancy disputes in NSW. Used after pre-action recovery has been documented.
NPP (New Payments Platform): Australia's real-time payments platform. Provides faster direct-debit handling than legacy BECS for debt recovery on plans.
OAIC: Office of the Australian Information Commissioner. Handles privacy complaints, including complaints about inaccurate credit-file data.
Payment claim (SOP Act): A formally-issued claim under a state Security of Payment Act, in construction. Triggers statutory rights to adjudication if unpaid. See also: SOP Act, Adjudication
Payment plan: A documented agreement to pay a debt in instalments over time. Should be sustainable and matched to the debtor's actual capacity. See also: Hardship
PBA (Project Bank Account): A trust-protected account, mandated for some construction projects in QLD, where head-contractor payments to subbies pass through trust funds.
QCAT: Queensland Civil and Administrative Tribunal. Equivalent of NCAT/VCAT for QLD.
Recovery rate: The proportion of overdue debt successfully recovered. Varies by debt age, amount, and channel. Modern self-service flows often match or exceed phone-room recovery for routine defaults. See also: Contingency
Retention trust scheme: A scheme where construction retentions held by the head contractor must sit in a separate trust account. Protects subbies if the head contractor goes into administration. Active in NSW and QLD.
SOP Act (Security of Payment Act): State legislation giving construction subcontractors statutory payment-claim rights. Each state has a version with different timing and enforcement. See also: Payment claim
Strata Schemes Management Act: NSW legislation governing strata schemes including levy debt recovery. Equivalent legislation exists in other states (VIC: Owners Corporations Act; QLD: BCCM Act).
Subrogation: When an insurer, having paid a claim, takes over the insured's right to recover the loss from the at-fault party. Subrogation excess recovery is a common task in insurance debt recovery.
TIO: Telecommunications Industry Ombudsman. Handles complaints about telco and ISP conduct including debt-collection conduct. Complaint volume is a real cost driver in telco recovery.
VCAT: Victorian Civil and Administrative Tribunal. Equivalent of NCAT/QCAT for VIC.