27 June 2006
DEBT FREE DIRECT GROUP PLC
LAUNCH OF DEBT FREE DIRECT AUSTRALIA
Debt Free Direct Group Plc (“Debt Free Direct”) announces today that it intends to launch a
new business venture in Australia in the third quarter of 2006, which is expected to be fully
operational by late 2006.
Debt Free Direct Group Plc will ultimately own 75% of an Australian subsidiary (Debt Free
Direct Australia Pty Limited).
Debt Administrator services (the Australian equivalent of the services provided by an
Insolvency Practitioner) will be provided by experienced local management, based in
Sydney, Australia. Anthony John Warner and Clifford John Sanderson have between them
over 35 years of debt advisory experience (see further details below).
Debt Free Direct will provide technical, IVA systems and marketing expertise, as well as the
Debt Free Direct brand and registered trademark in Australia.
Operational details and timescale
Operations will commence in the third quarter of 2006 with a view to the business being fully
operational by late 2006, in anticipation of the busy post-Christmas period.
Premises have been identified in Sydney, Australia and a recruitment campaign is under
way. UK based DFD staff will be seconded to assist in the start-up process on a limited
The Australian market
The Australian population is approximately 20 million, representing one third of the UK.
Australian consumers’ levels of over-indebtedness are running at record levels, and now
exceed 150% of annual disposable household income (only 40% in 1980), an historical high.
Many observers believe that Australia is overdue for an economic downturn. Any sort of
macro-economic shock will materially increase the number of personal insolvencies.
Debtors are largely uninformed about their options, as is the case in the UK, and will benefit
from a Best Advice driven approach, which has been the cornerstone of Debt Free Direct’s
success to date in the UK market. In conse