The Australian Financial Security Authority has issued a warning around dodgy insolvency advisors ahead of an anticipated spike of bankruptcies.
The personal insolvency regulator has now launched a public campaign to raise awareness on the prevalence of dodgy insolvency advisors and tell-tale signs for the public to look out for.
The Australian Financial Security Authoritys campaign comes as it is particularly concerned that those experiencing financial stress because of the economic impact of COVID-19 may be easy targets.
Some key signs that an advisor could be dubious include asking for a payment with a promise to get the person out of bankruptcy within a few months, or offering to organise a persons affairs so their property will b…
Read the full article at: https://www.accountantsdaily.com.au/business/15010-afsa-sounds-dodgy-advisor-warning-ahead-of-insolvency-wave