State of the Personal Insolvency System Report 2023–24
AFSA's State of the Personal Insolvency System Report, released in late 2024, reveals that debtors with small savings buffers are the most vulnerable to insolvency through challenging economic conditions and personal insolvencies continuing to rise. ...
AFSA's Regulatory Action Statement 2024–25
AFSA's Regulatory Action Statement 2024–25 has been released and outlines our focus in addressing conduct in the areas of significant harm, using our regulatory toolkit of education, compliance, investigation and enforcement. ...
Vulnerability Strategy update
Vulnerability is one of AFSA's enduring regulatory priorities. It has also been identified in the Regulatory Action Statement 2024–25, focusing on harms caused to individuals experiencing hardship. ...
Untrustworthy advice – report it if you see it
Untrustworthy advice is a significant harm in the credit system, which is why it is a key focus of AFSA's Regulatory Action Statement 2024–25. ...
Bankruptcy forms processing times
Changes to the Bankruptcy Act in November 2023 improved clarity on discharge dates. They also introduced a new provision. It requires the Official Receiver to decide on each Statement of Affairs (SoA) within 14 days of receipt. If the Official Receiver decides to refuse the SoA, a person now has at least 14 days to file an updated SoA. ...
AFSA hosts successful Personal Insolvency Forum
Our Chief Executive Tim Beresford hosted another successful Personal Insolvency Forum in late October 2024. The Forum discussed untrustworthy advice, personal insolvency agreements and debt agreements. ...
Indexed amounts update
The Australian Bureau of Statistics has released the Consumer Price Index (CPI) for the September quarter 2024. Some dollar amounts in bankruptcy law are indexed to these rates. The updates are available at Indexed amounts. ...