Personal insolvencies decreased in October 2024, according to new provisional monthly statistics released today by the Australian Financial Security Authority (AFSA).
In October 2024, there were 1,009 new personal insolvencies, dropping from 1,025 in September 2024.
Of the new personal insolvencies, 605 were bankruptcies, 391 were debt agreements, 11 were personal insolvency agreements, and two were 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
- retail trade.
There were also 6 new temporary debt protections.
During the same period, 290 people who entered a formal personal insolvency were also involved in a business, rising from 268 in September 2024. This covers sole traders, people in partnerships or directors in companies.
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.
