The Australian Securities & Investments Commission (ASIC) issued two infringement notices totalling AUD 37,560 to debt management firm Chapter Two Holdings Pty Ltd for alleged misleading statements on its website about consumer debt outcomes. Between 1 August 2023 and 14 March 2024, the website stated that Chapter Two had wiped AUD 80 million in debt and saved consumers AUD 30 million in interest. ASIC alleges the claims were false or misleading because Chapter Two could not substantiate the figures and there was no reasonable or evidence-based justification for them. The statements were removed on 14 March 2024; Chapter Two paid its first instalment toward the notices on 12 April 2025, and ASIC flagged potential further investigation and civil penalty proceedings if remaining instalments are not paid. Payment of an infringement notice is not an admission of liability. The matter was referred by the Australian Financial Security Authority (AFSA) under an updated ASIC–AFSA Memorandum of Understanding signed on 16 November 2023, and ASIC reiterated that debt management and debt collection misconduct is a 2025 enforcement priority, noting separate proceedings underway against Bakken Holdings Pty Ltd (trading as Solve My Debt).
Australian Securities & Investments Commission 2025-04-17
Australian Securities & Investments Commission issues AUD 37,560 infringement notices to Chapter Two Holdings over misleading debt management claims
ASIC issued two infringement notices totaling AUD 37,560 to Chapter Two Holdings Pty Ltd for allegedly misleading statements about consumer debt outcomes. ASIC claims the firm couldn't substantiate assertions of wiping AUD 80 million in debt and saving AUD 30 million in interest. The statements were removed in March 2024, and fines began in April 2025. Debt management misconduct remains a 2025 enforcement priority for ASIC.