Personal insolvencies decreased in September 2022, according to new monthly statistics released today by the Australian Financial Security Authority (AFSA).
During September, there were 833 new formal personal insolvencies – down from 886 in August.
Of the new personal insolvencies, 501 were bankruptcies, 317 were debt agreements, 10 were personal insolvency agreements and 5 insolvent deceased estate in September 2022.
Where we could identify the industry an individual worked in, the most common industries were:
- other services
- health care and social assistance.
In September 2022, there were 22 new temporary debt protections.
Throughout the period, 175 people who declared bankruptcy were also involved in a business – up from 173 in August.
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.