May 2017

AFSA Releases Personal Insolvency Statistics

The Australian Financial Security Authority (AFSA) recently released its statistics for the March 2017 quarter generally recording a rise in personal insolvencies when compared with the statistics released in relation to the December 2016 quarter.

In NSW, Greater Sydney saw an 11% increase in debtors whilst the rest of NSW rose only 1.9%.  As for VIC, Greater Melbourne recorded a 13.4% rise with the rest of VIC recording a similar rise of 10.8%.   In QLD, Greater Brisbane recorded 19.3% increase in debtors with the rest of QLD rising only 9.4%.

There were similar rises recorded across all other states and territories, save that in the Northern Territory, whilst Greater Darwin recorded an increase in debtors, a minor fall was recorded for the rest of the NT.

Whether personal insolvencies will continue to rise over the balance of 2017 remains to be seen.

The full data set can be downloaded from the AFSA web page, here.

For further information on personal insolvency please contact ERA Legal.