Personal insolvencies across Australia have increased in the June quarter 2024 compared to June quarter 2023, according to new statistics released today by the Australian Financial Security Authority (AFSA).
There were 2,947 new personal insolvencies in the 3-month period to June 2024, up from 2,705 in June 2023.
National data shows personal insolvencies rose in all states and territories compared to the June quarter 2023, except for Western Australia and Tasmania where the number declined.
Of the June quarter 2024 personal insolvencies, just over a quarter (793) were business-related.
Australians experiencing financial difficulty are encouraged to seek help early from trusted sources to assist individuals find a solution that works for their circumstances.
Financial counsellors and registered insolvency professionals can help to review individual situations and help plan an appropriate response.
Free confidential assistance is available through the National Debt Helpline or via phone at 1800 007 007.
For help with budgeting, Money Smart has some easy-to-use tools available at moneysmart.gov.au
More information about these statistics is available at Quarterly personal insolvency statistics.
Summary of national figures:
June quarter 2024:
- 1,704 were bankruptcies
- 1,181 were debt agreements
- 61 were personal insolvency agreements
- 1 was an insolvent deceased estate
- 793 personal insolvencies were business-related, up from 730 in the June quarter 2023.
