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In the March quarter 2021, personal insolvency fell 52.9% compared to the March quarter 2020, according to the latest personal insolvency statistics released by Australian Financial Security Authority (AFSA).
There were 2,545 personal insolvencies in the March quarter 2021, a 52.9% fall compared to the March quarter 2020. There were falls in all states and territories. The number of personal insolvencies rose 5.8% compared to the December quarter 2020.
By type of personal insolvency:
- bankruptcies fell by 47.3%
- debtor’s petitions, a subset of bankruptcies, fell by 45.1%
- sequestration orders, a subset of bankruptcies, fell by 79.5%
- debt agreements fell by 61.4%
- personal insolvency agreements fell by 55.3%.
In the March quarter 2021, 30.8% of bankruptcies were business related, a fall from 37.3% in the March quarter 2020.
In the March quarter 2021, 23.3% 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.