Login or request a free trial

Insolvency numbers down

COVID-19 relief measures have played their part is keeping consumers out of insolvency, with a significant drop in the number of personal insolvencies recorded in the March quarter.

According to the latest Australian Financial Security Authority figures, there were 2545 personal insolvencies in Australia in the March 2021 quarter – a fall of 53 per cent compared with the March quarter last year.

There were falls in all states and territories, and in all types of personal insolvencies – bankruptcies, debtor petitions, sequestration orders, debt agreements and personal insolvency agreements.

Around a third (30.8 per cent) of bankruptcies in the quarter were business-related, compared with 37.3 per cent in the March quarter 2020.

 

 

 

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day