In the December quarter 2020, personal insolvency fell 54.4% compared to the December quarter 2019, according to the latest personal insolvency statistics released by Australian Financial Security Authority (AFSA).
There were 2,406 personal insolvencies in the December quarter 2020, a 54.4% fall compared to the December quarter 2019. There were falls in all states and territories. The number of personal insolvencies fell 19.5% compared to the September quarter 2020.
By type of personal insolvency:
- bankruptcies fell by 53.0%
- debtor’s petitions, a subset of bankruptcies, fell by 50.6%
- sequestration orders, a subset of bankruptcies, fell by 80.2%
- debt agreements fell by 58.0%
- personal insolvency agreements fell by 20.6%.
In the December quarter 2020, 27.1% of personal insolvencies were business related.
This quarter, AFSA has implemented several changes to the quarterly statistics including:
- implemented minor revisions due to a reporting enhancement
- expanded our bankruptcy statistics to show the types of bankruptcy.
Read more about quarterly personal insolvency statistics.
If you have any further questions about this media release, or AFSA statistics, please contact the AFSA media team. Please note that AFSA does not provide commentary on the statistics themselves.