Personal insolvencies across Australia have increased in the September quarter 2024 compared to September quarter 2023, according to new statistics released today by the Australian Financial Security Authority (AFSA).
There were 3,307 new personal insolvencies in the 3-month period to September 2024, up from 3,108 in September 2023.
National data shows personal insolvencies rose in all states and territories compared to the September quarter 2023, except for South Australia and the Australian Capital Territory where the number declined.
Of the September quarter 2024 personal insolvencies, over a quarter (27.9%) 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:
September quarter 2024:
- 1,808 were bankruptcies
- 1,428 were debt agreements
- 63 were personal insolvency agreements
- 8 were insolvent deceased estates
- 924 personal insolvencies were business-related, up from 782 in the September quarter 2023.
