Personal insolvencies decreased in December 2022, according to new monthly statistics released today by the Australian Financial Security Authority (AFSA).
During December, there were 612 new formal personal insolvencies – down from 863 in November.
Of the new personal insolvencies, 363 were bankruptcies, 242 were debt agreements, 4 were personal insolvency agreements and 3 insolvent deceased estates in December 2022.
Where we could identify the industry an individual worked in, the most common industries were:
- other services
- health care and social assistance
In December 2022, there were 23 new temporary debt protections.
Throughout the period, 148 people who declared bankruptcy were also involved in a business – down from 177 in November.
People experiencing financial stress are encouraged to seek support early. Free confidential assistance is available through the National Debt Helpline.
If you’re facing serious unmanageable debt and considering formal insolvency options, reach out to a registered trustee or registered debt agreement administrator.
More information about our statistics is available at afsa.gov.au/statistics.