[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]The Australian Financial Security Authority (AFSA) has released their ‘Quarterly Personal Insolvency Statistics – March 2018’.
Queensland, New South Wales and Victoria recorded the highest amount of personal insolvencies for the March quarter and their figures make up over 75% of personal insolvencies Australia wide.
An interesting result from the statistics showed that despite Queensland making up less than 20% of the Australian population, it produced almost 30% of all personal insolvencies.
It was also reported that the most common cause for non-business related personal insolvency was due to an excessive use of credit.
We have created a list of common warning signs of insolvency for individuals. Some of these include:
- Applying for more finance or credit or often being denied for more credit
- Unable to pay creditors such as banks; credit cards and invoices (bills) on time or at all
- Often denial, believing the situation will go away
To view the full list of indicators for Individuals and Businesses, click here.[/vc_column_text][vc_single_image image=”5216″ img_size=”large” onclick=”img_link_large” qode_css_animation=””][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” padding_top=”5%” padding_bottom=”5%” css=”.vc_custom_1505178040953{border-top-width: 1px !important;border-top-color: #e6e7e8 !important;border-top-style: none !important;}”][vc_column][vc_column_text css=”.vc_custom_1526451330218{padding-top: 5% !important;padding-bottom: 5% !important;}”]
If you are concerned about your financial position?
Contact us now for an obligation free consultation on
1800 246 801
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