A Registered Debt Agreement Administrator is an individual or a company that is registered and regulated by the Insolvency Trustee Service Australia (AFSA) to assist individuals to set up and supervise debt agreements in Australia. Choosing a Registered Debt Agreement Administrator (RDAA) to set up a debt agreement in Australia is absolutely critical. AFSA has a list of Registered Debt Agreement Administrators published on its web site.
Debt Free has been officially registered with AFSA since the 1st of July 2007 when the formal registration process was initially introduced. Given Debt Free was registered from the beginning, you can be assured if you choose us you will be dealing with a reputable and experienced Registered Debt Agreement Administrator. In fact our company is a little different to most other debt agreement companies. Our Managing Director is a Chartered Accountant and a Registered Trustee in Bankruptcy. This means you would be dealing with a company which is owned and operated by a managing director who is fully qualified in the personal insolvency profession. Many other RDAAs are not Registered Trustees in Bankruptcy which means they do not hold the full personal insolvency licence with AFSA. Worse still dealing with an unregistered administrator could cost you more money in the run long as they typically charge money up front and then they simply refer your case to a RDAA at some later stage. That means any money paid to the unregistered administrator would be wasted and the time your case was with them would also be wasted.
To make sure you are dealing with the appropriate person or company to assist you to set up a debt agreement make sure you ask the following questions:
• are you a Registered Debt Agreement Administrator licensed by AFSA?
• are you regularly inspected by the AFSA?
• What qualification do you have?
After you ask these questions, you will only then be able to establish if you are dealing with a properly registered company.
To see if a person or company is registered with AFSA click here