From 27 June 2019 there are several changes being made to how practitioners administer debt agreements. What’s changing?
A new reporting threshold for three month arrears.
New certification requirements for proposals to vary debt agreements.
Introduction of new offences.
Unregistered debt agreement administrators will no longer be able to administer debt agreements. If you are an unregistered debt agreements administrator you will need to apply for registration with AFSA. If you don’t, debt agreements you manage will automatically transfer to the Official Trustee (AFSA) on 27 September 2019 if your registration has not been processed.