
Personal insolvencies decreased in September 2024, according to new provisional monthly statistics released today by the Australian Financial Security Authority (AFSA).
In September 2024, there were 1,025 new personal insolvencies, dropping from 1,119 in August 2024.
Of the new personal insolvencies, 556 were bankruptcies, 454 were debt agreements, 14 were personal insolvency agreements, and one was an insolvent deceased estate.
Where AFSA could identify the industry in which an individual worked, the most common industries were:
- construction
- retail trade
- health care and social assistance.
There were also 12 new temporary debt protections.
During the same period, 268 people who entered a formal personal insolvency were also involved in a business, dropping from 310 in August 2024. A business-related personal insolvency is a personal insolvency where a person has operated a business as a sole trader, in partnership, or as a director in a company.
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.