Our professional pledge to consumers is to ensure services are provided efficiently, honestly and fairly. This includes acting with transparency, in a manner that delivers good consumer outcomes, and in a way that supports and adds value to consumers (particularly those facing financial hardship).
Debt Management Services™ does not utilise or engage in high-pressure sales tactics. We ensure that our services are promoted in a reasonable manner that does not create unrealistic expectations about the benefits or costs associated with our services.
We do not actively engage in cold-calling or pursue aggressive unsolicited email campaigns, paid social media advertising or paid search engine marketing.
The majority of our client engagements are organic and originate from professionals (referrals from financial counsellors, accountants, lawyers, consultants, finance brokers and insolvency professionals).
Prior to accepting a formal engagement, we ensure consumers are made fully aware of:
The services we provide are tailored to the unique circumstances of each and every individual consumer. We fully appreciate that no one individual's circumstances are the same. As such, we provide a free half hour consultation to all prospective clients. This enables us to establish whether we are the appropriate advisor for your circumstances or whether you are better suited to using the FREE RESOURCES available.
Our initial consultation is obligation free and highly confidential. We conduct an assessment of your financial position and gain an understanding of your circumstances. Should we deem our services are suitable (in that we believe our advice is valuable, warranted and/or likely to improve your position) then we will prepare a free written proposal and quote a fixed fee for achieving your objectives. We will always demonstrate that our services provide tangible benefits to consumers before engagement (meaning they are cost effective, adding value and improving the welfare and/or the financial position for clients).
Once engaged, we provide our services in a timely and efficient manner. We recognise that there may be adverse effects on consumers if there are unnecessary delays. In a similar fashion, we require your full cooperation, ongoing communication and proactive assistance to ensure we can achieve your objectives in the appropriate timeframe (and given our agreed scope of works). Creditor negotiations are often time sensitive and require immediate contact.
If we are aware, or become aware, that a client does not have reasonable grounds to support the lodgement of a complaint in relation to a credit contract or a related debt (for example, to a credit provider, AFCA, ASIC or OAIC) then we will immediately advise the consumer that the complaint should not be made.
In a similar fashion, should we discover that there have been deliberate material omissions, inaccuracies or misleading statements made, then we reserve the right to immediately terminate client engagements. In this instance, we will notify all third parties with whom we have had contact and notify them of the discontinuation of our services. Although we will look at each case individually, it is unlikely that we will issue a refund to clients under such circumstances. All rights are reserved by you to escalate the matter for alternative dispute resolution with AFCA.
We recognise that consumers seeking debt management services are facing financial distress and may also be experiencing vulnerability due to their precarious personal and financial circumstances. We understand that each and every individual's circumstances are unique. We always educate consumers and warn against taking advice from predatory advisory firms.
An individual's vulnerability may come from a range of factors including age, disability, mental health, physical health, family violence, language barriers, literacy, cultural background, Aboriginal or Torres Strait Islander status, remote location or financial hardship (as described by ASIC).
For this reason, Debt Management Services™ ensurse that our services are appropriately geared to understand the needs of consumers who may be experiencing vulnerability, health or welfare issues.
Even where contact with a consumer does not result in a formal engagement, we never leave the consumer stranded and ensure the appropriate referral is made (whether to a financial counsellor, Government department or qualified medical clinician).
We always act in a professional manner, and with competence, objectivity and independence. We maintain a high level of discretion; acting with confidentiality and integrity.
Debt Management Services™, as a privately operated business, provides high-quality debt management advice, informal creditor workouts and personal insolvency & negotiation services.
FOUNDER Eddie Griffith is the first point of contact for all consumers (to ensure high standards and quality advice).
Advice from Debt Management Services™ will often be as a result of an individual's involvement in a distressed, insolvent or failed business. We often advise the directors of companies that are, or have been, subject to external administration.
We are expert negotiators and communicators that specialise in debt management advice, informal creditor workouts and personal insolvency. We have a systematic approach and a comprehensive knowledge of financial distress, hardship and personal insolvency (refer to the qualifications and experience of our FOUNDER Edward Griffith).
Within our services, we may include advice debt negotiation, dispute lodgement and hardship notification services.
ASIC has determined the following to be 'debt management assistance':
For the full definition of what constitutes a 'debt management service', 'debt management assistance' and 'credit reporting assistance', see section 6 of the National Credit Act (as inserted by regulations 4B and 4C of the Debt Management Services Regulations).
These services are deemed to fall within ASIC's determination of a 'debt management service' for which an Australian Credit Licence must be held (regulated under the National Consumer Credit Protection Act 2009).
ASIC describes credit reporting assistance as "suggesting and/or helping a consumer to apply for a change to information collected by a credit reporting body about a credit contract for which the consumer is a debtor".
The Australian Institute of Credit Management, a professional body of which our Founder maintains certified membership, describes this as ‘cleaning’, ‘fixing’ ‘repairing’, ‘removing’ or ‘washing’ away default listings on credit reports.
IMPORTANT NOTE: Our business, Debt Management Services™, does not directly provide or charge a fee (and will never guarantee) any amendments or 'repairs' to consumer records relating to credit contracts held by the credit reporting bodies. EFFECTIVELY, WE DO NOT OFFER DIRECT CREDIT REPAIR SERVICES.
You can access your credit report for free by visiting the Office of the Australian Information Commissioner (OAIC) or use the free credit score tool by finder.com.au (external unaffiliated links). You may then wish to contact an appropriate advisory service such as a financial counsellor to establish your options (see our FREE RESOURCES information page).
Credit representatives are authorised to engage in credit activities on behalf of a credit licensee. Debt Management Services™ is a trading business name by sole proprietor Edward Griffith (FOUNDER), who is the licensee for Australian Credit Licence 666666 (debt management services authorisation).
As a licensee Debt Management Services™ can authorise a body corporate as a credit representative. As bodies corporate can only engage in credit activities through the conduct of a natural person they may, with our consent, sub-authorise a natural person or persons to engage in credit activities on our behalf. ASIC states that no other form of sub-authorisation is permitted under the National Credit Act.
Sub-authorised representatives will be regarded as the credit representatives of Debt Management Services™ (as the licensee), not of the corporate credit representative. It is a requirement of Debt Management Services™ corporate credit representatives to be a member of AFCA. There is no requirement for individual directors and employees sub-authorised by a body corporate credit representative to hold separate AFCA memberships.
Debt Management Services™ (as licensee) must give written notice to any person they authorise as a credit representative. A licensee must also give its written consent to enable a body corporate credit representative to sub-authorise a natural person to engage in credit activities on behalf of the licensee. A body corporate that is a credit representative of a licensee must give written notice to any person they sub-authorise. Both the credit representative and the licensee should retain a copy of the consent for their records.
As a licensee (authorised to engage in activities other than as a credit provider), Debt Management Services™ can authorise a credit representative to engage in debt management services activities (but may not authorise the providing of credit).
Debt Management Services™ will not permit our credit representatives to provide and/or guarantee any amendments or 'repairs' to consumer records relating to credit contracts held by the credit reporting bodies. This is a strict condition of becoming an authorised credit representative (for debt management services) of Debt Management Services™ as the licensee.
ASIC describes credit reporting assistance as "suggesting and/or helping a consumer to apply for a change to information collected by a credit reporting body about a credit contract for which the consumer is a debtor". Debt Management Services™ does not provide this service and does not authorise credit representatives to engage in such activities.
If you are interested in becoming an authorised credit representative of Debt Management Services™, please contact us at firstname.lastname@example.org. Please visit ASIC information sheet (INFO 126) for detailed information about becoming an authorised credit representative.
Debt Management Services™ will obtain from ASIC information held about a representative. This is to help reduce industry-related compliance risks. ASIC's Information Sheet 250 Giving AFS and credit licensees information about their representatives (INFO 250) outlines ASIC's approach to giving credit licensees information about their prospective and appointed representatives.
At present, Debt Management Services™ has authorised the following credit representative(s) to engage in debt management services under ACL 666666:
Should you wish to complain about a Debt Management Services™ authorised credit representative (about debt management services provided), please immediately contact email@example.com.
As a licensee, Debt Management Services™ has a continual obligation to monitor and supervise our credit representatives. This is to ensure that they are adequately trained and competent to act as credit representatives for debt management advice and are complying with the credit legislation.
Debt Management Services™ maintains records about the monitoring and supervisory activities. This is to enable us to share information under the ASIC protocol about current and former credit representatives.
To reiterate, please note that Debt Management Services™ does not permit our credit representatives to provide credit repair services (advice to 'repair', 'clean' or 'fix' entries in a consumer’s credit report that relate to a consumer credit contract - as described by ASIC as 'credit reporting assistance').
WE DO NOT OFFER DIRECT CREDIT REPAIR SERVICES AND IF IT IS DISCOVERED THAT CREDIT REPRESENTATIVES ARE ENGAGING IN SUCH ACTIVITIES, IT IS GROUNDS FOR TERMINATION.
If for any reason the appointment becomes legally invalid after it has been made, or there is a breach of the credit representatives conditions, Debt Management Services™ will immediately terminate that representative and give notice to ASIC. See ASIC Regulatory Guide 205 Credit licensing: General conduct obligations (RG 205) for more information.
Debt Management Services™ - ABN 33 987 559 145
Australian Credit Licence: 666666 | AFCA Member 86551 | Liability limited by a scheme approved under Professional Standards Legislation.
Copyright © 2021 (protected by CopyScape) ~ Debt Management Services™ ~ All Rights Reserved.