Personal insolvencies are down everywhere except NSW

Personal insolvencies are down everywhere except NSW
Personal insolvencies are down everywhere except NSW

Personal insolvencies fell in all states and territories except New South Wales, according to the latest released by the Australian Financial Security Authority (AFSA). 

Personal insolvencies include bankruptcies, debt agreements and personal insolvency agreements, but do not include corporate insolvencies.

The statistics show that the number of new personal insolvencies fell 9.7% from the September quarter 2017, from 8194 to 7400. New South Wales was the only state or territory to record a rise (0.4%).

The rise in New South Wales was due to a rise in debt agreements.

New South Wales and the Australian Capital Territory were the only areas with a rise in debt agreements or personal insolvency agreements.

Bankruptcies fell in all states and territories except Western Australia.

Bankruptcies reached a record quarterly low in South Australia.

They reached their lowest level in a quarter in Tasmania since the March quarter 1989.

In the September quarter 2018, 17.8% of new debtors entered a business related personal insolvency. The highest proportion was in Western Australia (21.6%).

Tags: 
NSW Insolvencies

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