Personal insolvencies decreased in June 2024, according to new provisional monthly statistics released today by the Australian Financial Security Authority (AFSA).
In June 2024, there were 851 new personal insolvencies, dropping from 1,049 in May 2024.
Of the new personal insolvencies, 469 were bankruptcies, 356 were debt agreements, and 26 were personal insolvency agreements. There were no insolvent deceased estates.
Where AFSA could identify the industry in which an individual worked, the most common industries were:
- construction
- health care and social assistance
- other services.
There were also 21 new temporary debt protections.
During the same period, 223 people who entered a formal personal insolvency were also involved in a business, dropping from 276 in May 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.