February 2017, DCS Group Aust Pty Ltd has won a Feefo Gold Trusted Service award. An independent seal of excellence that recognises businesses for delivering exceptional experiences, rated by real customers. Created by Feefo, Trusted Service is awarded to businesses that use Feefo to collect genuine ratings and reviews. A badge of honour, this accreditation remains […]
Debt Agreement volume increased by 15.6% in the March quarter 2016, to an all-time high of 2968. Debt Agreement volume is expected to remain high for the foreseeable future. RBA figures show that the household debt to disposable incomes ratio is at an historic high 186.3% and increasing faster than GDP growth at 3.4% per […]
Debt has been with us since the beginning of civilisation. Some of the earliest examples of written language, Cuneiform tablets relate to debt, and the first recorded debt systems began in Sumer around 3500BC. Debt actually pre-dates coinage, which appeared in 600BC. People have been experiencing problems with debt for just as long. In 3500bc, […]
In September 2015 the Productivity Commission released a report into Business Set-Up, Transfer and Closure. In the report they recommend bankruptcy be reduced from 3 years to 12 months with a 3 year payment period in order to encourage entrepreneurship. The express aim of the proposal is to allow bankrupt entrepreneurs access after 12 months […]
Total insolvency activity increased in the December quarter by 1.5%, with growth in debt agreements strong at 4.4%. Bankruptcy numbers remain steady and personal insolvency agreements, matters for those with very large amounts of debt/income, declined by 24.1%. Increasing levels of debt agreements vs. bankruptcy is an indicator of financial pressure on families and individuals. […]
ASIC released its report into the “Debt Management Industry” on the 21st of January. The report conflates several industries in the analysis of a sector. This is not however comparing apples and apples. Debt Agreement Administrators are heavily regulated by AFSA. They are, in general, inspected annually, which involves reviewing systems and procedures, such as […]