Victorian bankruptcies down 6.6% with Cranbourne harbouring the most bankrupts

The number of personal bankruptcies in Victoria fell 6.6% from 2010-11 to 2011-12, according to new data from the federal government’s Insolvency and Trustee Service Australia.

ITSA’s personal insolvency activity by postcode report found the number of bankruptcies in Greater Melbourne fell 4.3% from 3,165 to 3,029 while the rest of Victoria fell 11.4%, from 1,472 to 1,304.

Despite the overall downwards trend, many postcodes increased the number of bankruptcies over the period.

Cranbourne and surrounding suburbs still top the list suburbs with the most number of personal bankruptcies after increasing 10.2% to 108 bankruptcies.

Frankston and Karingal still come in second despite dropping 3.4% to 84 bankruptcies.

Ballarat and surrounding suburbs have replaced Hoppers Crossing to take in third place. Ballarat and surrounding suburbs had 60 bankruptcies over the period, up 13.2%.

The list was first published last year.

Inspector-General in bankruptcy, Veronique Ingram, says the information facilitates informed decision making.

“We received an overwhelmingly positive response on the usefulness of this information, so we will produce this publication annually. We have listened to the community and enhanced the publication this year,” Ingram says.