Beware of associations offering “government sponsored debt relief grants”

Tuesday, July 18, 2017

AFSA has been made aware of at least one Registered Debt Agreement Administrator (RDAA) who had website links to an entity offering “government sponsored debt relief grants”. Please note that the Australian Competition and Consumer Commission (ACCC) has issued a public warning about this entity.

Once contacted by AFSA, the RDAA in question removed the reference and related material from their website.

RDAAs—and all insolvency practitioners—are reminded of their obligation to provide information, guidance and advice that is professional, accurate and free from potentially false and misleading statements.

All insolvency practitioners are reminded of the importance of upholding the credibility of the profession, and not to associate with entities that diminish that reputation.

Read the full ACCC public warning here.

For more information, contact regulations.enquiry [at] afsa.gov.au.