Personal insolvencies decreased in August 2024, according to new provisional monthly statistics released today by the Australian Financial Security Authority (AFSA).
In August 2024, there were 1,119 new personal insolvencies, dropping from 1,157 in July 2024.
Of the new personal insolvencies, 617 were bankruptcies, 479 were debt agreements, 20 were personal insolvency agreements, and three were insolvent deceased estates.
Where AFSA could identify the industry in which an individual worked, the most common industries were:
- construction
- other services
- health care and social assistance.
There were also 14 new temporary debt protections.
During the same period, 310 people who entered a formal personal insolvency were also involved in a business, dropping from 315 in July 2024.
Data provided in the monthly statistics is provisional and not final. For final quarterly data, visit AFSA's quarterly personal insolvency statistics at Quarterly personal insolvency statistics.
People experiencing financial stress are encouraged to seek support early. Free confidential assistance is available through the National Debt Helpline - www.ndh.org.au.
For anyone facing and considering formal insolvency options, reach out to a registered trustee or registered debt agreement administrator.
For more information about these statistics, visit Monthly personal insolvency statistics.
