Credit Counsellors Australasia

The measure of contempt of the system, in its early stages from creditors can be gauged by the volume of rejected proposals during the period 1996 at the introduction of the legislation to June 2005. During that period 31,020 proposals were accepted for processing by the Official Receiver, 21,014 proposals were accepted by creditors and 10,006 were rejected. As a percentage over the period creditors rejected 37.66%.