In the March quarter 2022, personal insolvencies fell 13.0% compared to the March quarter 2021, according to the latest personal insolvency statistics released by Australian Financial Security Authority (AFSA).
There were 2,215 personal insolvencies in the March quarter 2022, a fall of 330 (-13.0%) compared to the March quarter 2021. There were falls in all states and territories except Tasmania. The number of personal insolvencies fell by 193 (-8.0%) compared to the December quarter 2021, where there were 2,408 personal insolvencies.
By type of personal insolvency, compared to the March quarter 2021:
- bankruptcies fell by 262
- debtor’s petitions, a subset of bankruptcies, fell by 348
- sequestration orders, a subset of bankruptcies, rose by 86
- debt agreements fell by 86
- personal insolvency agreements rose by 13.
In the March quarter 2022, 29.9% of bankruptcies were business related, this is a fall from 30.8% in the March quarter 2021.
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.