Bankruptcies at 24 year low

In the March quarter 2019, bankruptcies were at their lowest level since the March quarter 1995, according to the latest personal insolvency statistics released by the Australian Financial Security Authority (AFSA).

There were 3,765 bankruptcies in the March quarter 2019, a 9.2% fall compared to the March quarter 2018. This fall means that bankruptcies are at their lowest level since the March quarter 1995. There were falls in all states and territories except the Australian Capital Territory. In the December quarter 2018, there were 3,788 bankruptcies. 

There were 2,552 debt agreements in the March quarter 2019, a 31.5% fall compared to the March quarter 2018. This is the lowest quarterly level since the September quarter 2013. They fell in all states and territories.

Total personal insolvencies fell 19.4% in the March quarter 2019 compared to the March quarter 2018.

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.

In the March quarter 2019, 18.0% of new debtors entered a business related personal insolvency. The highest proportion was in Western Australia.

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.