Personal insolvencies decline

Personal insolvency activity fell in the December 2011 quarter, during which 7689 people either became bankrupt, or entered Part IX debt agreements or Part X insolvency agreements.

The latest data from Insolvency and Trustee Services Australia shows a reduction of four per cent on the September quarter, when there were 8012 insolvencies.

The December figure is a reduction of two per cent on the December quarter in 2010.

Bankruptcies were down four per cent year on year, while Part IX agreements were up 2.9 per cent, and Part X agreements were down 3.4 per cent.