Role of a Debt Agreement Administrator

The role of a Registered Debt Agreement Administrator is to assist insolvent debtors formulate a debt agreement proposal to be submitted to ITSA for processing which will then be circulated to your creditors for voting.

The Registered Debt Agreement Administrator must certify that your proposal is sustainable and you have disclosed all necessary information to your creditors. If your debt agreement proposal is accepted by your creditors, your administrator will collect the contributions you have offered under your proposal and will distribute those contributions to your creditors (less the approved administrator’s fee). The administrator will usually make the distributions to your creditors on a quarterly or six monthly basis but this will be stipulated in your proposal.