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Small rise in personal insolvencies

Personal insolvency activity rose in the September quarter, with 8012 people either becoming bankrupt or entering Part IX debt agreements or Part X insolvency agreements.The latest data from Insolvency and Trustee Service Australia shows an increase of 3.9 per cent on the June quarter, when there were 7707 insolvencies.The September figure was down 6.4 per cent on the September quarter last year.Insolvency numbers are at pre-GFC levels, according to the Insolvency Practitioners Association of Australia. There were 31,515 insolvencies in the year to June - a little below the 31,971 recorded in 2006/07.The latest figures show that bankruptcies rose just 1.34 per cent in the September quarter, while Part IX agreements were up 10.4 per cent and Part X agreements rose 22 per cent.

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