AFSA have released their statistics about the cause of personal insolvency in Australia.
National fall in Personal insolvency for December quarter 2014
There were 6,888 total personal insolvencies recorded in the December quarter 2014, a fall of 8.1% in comparison from the December quarter 2013, where 7,493 personal insolvencies were recorded, according to the latest statistics released by AFSA.
In Summary
- Bankruptcies fell 13.7% percent in the December quarter 2014 compared to the December quarter 2013.
- Personal insolvency agreements fell 10.0% in the December quarter 2014 compared to the December quarter 2013.
Locations
From a regional perspective, there were increases in debt agreements across all states and territories except New South Wales and the Australian Capital Territory. Debt agreements in South Australia and the Northern Territory in the December quarter 2014 are the highest number on record in a quarter.
If you would like more advice on how SV Partners can assist your clients with personal insolvency matters, please contact one of our expert advisors on 1800 246 801.