Annual personal insolvencies fell 49.6% in 2020–21

The Australia Financial Security Authority today released the personal insolvency statistics for the 2020–21 financial year.

These statistics cover the different types of personal insolvencies: bankruptcies, insolvent deceased estates, 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 2020–21

In 2020–21, there were 10,621 total new personal insolvencies, a fall of 49.6% compared to 2019–20. There were falls in all states and territories.

There were 6,792 bankruptcies in 2020–21, an 46.7% fall compared to 2019–20. There were falls in all states and territories.

There were 3,731 debt agreements in 2020–21, a fall of 54.2% compared to 2019–20. There were falls in all states and territories.

Personal insolvencies in June quarter 2021

In the June quarter 2021, the number of new personal insolvencies fell 37.6% compared to the June quarter 2020. There were falls in all states and territories except Tasmania.

There were 1,738 bankruptcies in the June quarter 2021, a 23.3% fall compared to the June quarter 2020. There were falls in all states and territories except Tasmania.

There were 921 debt agreements in the June quarter 2021, a 53.7% fall compared to the June quarter 2020. There were falls in all states and territories.

In the June quarter 2021, 35.3% of new bankruptcies were business related, a fall from 38.1% in June quarter 2020.

In the June quarter 2021, 25.8% of all personal insolvencies were business related.

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.