CEO of credit repair company welcomes ASIC review into the credit repair and debt management sector

ASIC has announced a probe into credit repair and debt management services which has been welcomed by CEO Victoria Coster of Credit Fix Solutions.

SYDNEY, NSW, AUSTRALIA, July 31, 2025 /EINPresswire.com/ -- CEO of Credit Fix Solutions, Australia’s first ever deferred fee credit repair firm founded in 2014, warmly welcomes the 22 July 2025 announcement by the Australian Securities and Investments Commission (ASIC) that it will conduct a comprehensive review of all licensed credit repair and debt management firms (ASIC).

With 25 years’ hands on experience in the credit repair, debt management and finance industries, Credit Fix Solutions' CEO, Victoria Coster has built its reputation on rigorous compliance, ethical transparency, and client first outcomes.

ASIC’s launch of a surveillance of around 100 credit licensees, focusing on compliance, fee structures, communication and promised deliverables, is both timely and essential (ASIC). Commissioner Alan Kirkland highlighted disturbing real life cases: a consumer left in the dark while default notices escalated; another encouraged toward bankruptcy despite unanswered inquiries; and firms insisting on strict no refund policies despite service failure (9News).

According to CEO Coster, "At Credit Fix Solutions, we receive at least one call per week from individuals seeking redress after being left worse off by unscrupulous providers—charged high fees, poor communication, or outright misleading claims." As ASIC has identified, the sector includes operators who charge significant fees for limited or no services, fail to meet agreement terms, and block refunds—leaving vulnerable consumers seriously harmed (Mirage News).

ASIC's 2025 enforcement priorities align squarely with our values. Even prior to the 2021 licensing, Credit Fix Solutions voluntarily self-regulated its service offerings to be an honest and fair credit repair firm. As a boutique business, we mainly assist finance brokers with credit reporting education and credit repair services where needed and only if a benefit to their clients. For context, out of 20 reports we see a day, we only onboard around 2 to 3 clients. The rest of the week, we are educating consumers on credit reporting, and giving out DIY options which is at our own cost. We believe that consumers deserve a safe place to land when it comes to credit reporting education and honest solutions.

The vision for Credit Fix Solutions is to be a long-standing firm, that can provide education, DIY options and only credit repair where needed. CEO Victoria Coster has recently shared a financial literacy course with The Anglican Schools Corporation, which she developed alongside CEO Beth Comino of HAS, Home Affordability Solutions, which they hope is rolled out to schools everywhere. Multiple times on a daily basis when we assess a report, the consumer has data on their report that with some education could have simply been prevented.

We envision the next generation coming out of school understanding how to start their wealth creation journey with their best foot forward, especially in regional and low socio-economic areas.

We support ASIC’s plan to publish its findings in mid 2026 and expect the review will bring lasting improvements in consumer confidence and industry standards (ASIC). For regulated businesses like ours, greater scrutiny confirms that ethical, effectiveness based models are both sustainable and essential.

Victoria Coster, CEO of Credit Fix Solutions, says:
“Having seen firsthand the damage caused by predatory operators over 14 years, I applaud ASIC’s willingness to shine a spotlight on conduct that must change. Consumers in financial distress deserve honesty, fairness and professionalism—not high upfront charges and empty promises. At Credit Fix Solutions, we’ve been pioneering deferred fee credit repair in Australia since 2014—and continue to set the standard for integrity, transparency and real outcomes.”

"Having a consumer call in at least once a week, stating they'd been paying a credit repair firm for months and nothing had happened, or they had paid an upfront fee and not all negative data had been cleared so they still couldn't obtain finance is simply heartbreaking."

Credit Fix Solutions believes that although more legislation might not help, because dodgy operators are getting around the rules now, so they'll just get around new rules, a review is very much needed to prevent these egregious harms from hard-working Aussie battlers being sold a fake dream and paying for it.

With ASIC’s review now under way, Credit Fix Solutions calls on all stakeholders to back this initiative—and to help transform the credit repair and debt management industry into a truly consumer focused sector.

Victoria Jordan Coster
Credit Fix Solutions
victoria@creditfixsolutions.com.au
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