Annual bankruptcies at a 24 year low

The Australian Financial Security Authority today released the personal insolvency statistics for 2018–19 and June quarter 2019.

These statistics cover the three types of personal insolvencies: bankruptcies, debt agreements and personal insolvency agreements. Debt agreements and personal insolvency agreements are legally binding agreements for somebody who is insolvent to pay their creditors an agreed amount.

Personal insolvencies in 2018–19


In 2018–19, bankruptcies fell to their lowest annual level since 1994–95. There were 15,329 bankruptcies in 2018–19, an 8.8% fall compared to 2017–18. There were falls in all states and territories except Western Australia.

There were 11,549 debt agreements in 2018–19, a fall of 22.1% compared to 2017–18. There were falls in all states and territories. This was the first annual fall after seven consecutive increases.

There were 27,058 total personal insolvencies in 2018–19, a fall of 15.1% compared to 2017–18. Total personal insolvencies are at their lowest annual level since 2004–05.

Personal insolvencies in June quarter 2019


In the June quarter 2019, the number of new personal insolvencies fell 20.1% compared to the June quarter 2018. There were falls in all states and territories.

There were 3,830 bankruptcies in the June quarter 2019, a 12.9% fall compared to the June quarter 2018. There were falls in all states and territories except Tasmania.

There were 2,654 debt agreements in the June quarter 2019, a 28.7% fall compared to the June quarter 2018. There were falls in all states and territories.

In the June quarter 2019, 18.1% of new debtors entered a business related personal insolvency. The highest proportion was in Western Australia (22.2%).

Read more about personal insolvency statistics and business and non-business statistics.

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If you have any further questions about this media release, or AFSA statistics, please contact the AFSA media team on 0408 105 665 or media [at] afsa.gov.au. Please note that AFSA does not provide commentary on the statistics themselves.