ASIC announces Debt Management Licencing Regime commenced on 1 July 2021
- Published 07.07.2021
Individuals and organisations providing debt management services, including those offering ‘debt negotiation’ or ‘credit repair’ services are now subject to regulation. Amongst many other things, this means that the providers of such services must hold a credit licence and they must, from 30 June 2021, be operating within the transitional arrangements.
For full details on the transitional arrangements and a list of those debt management service providers that have applied for a credit licence, see: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-re…
Creditors dealing with a person or organisation providing debt management services on behalf of debtors should refer to the list to ensure those providing the services are permitted to do so.