Applying for registration

Changes to debt agreements

From 27 June 2019 there were several changes to how practitioners administer debt agreements. What’s changed?

• 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 are no longer able to administer debt agreements. If you are an unregistered debt agreements administrator you 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.

For more information on these changes see Bankruptcy Amendment (Debt Agreement Reform) Act 2018 - Frequently asked questions