Personal insolvencies increased 4.4% in 2015–16 compared to 2014–15. Queensland and Western Australia were the main contributors to this rise. This is the first annual rise since 2009–10.
Bankruptcies increased 0.2% in 2015–16 compared to 2014–15. Western Australia and Queensland were the only states or territories where bankruptcies increased.
The rise in bankruptcies in 2015–16 is the first rise since 2008–09.
Debt agreements in 2015–16 were the highest level on record. There were record debt agreements in all states and territories except the Australian Capital Territory, Victoria and Tasmania.
Debt agreements increased 11.4% in 2015–16 compared to 2014–15. Queensland and New South Wales were the main contributors to this rise.
Personal insolvency agreements fell 18.2% in 2015–16 compared to 2014–15. The main contributors to this fall were Victoria, New South Wales and South Australia.
See more about the most recent annual personal insolvency statistics.