Personal insolvencies decreased in April 2023 according to new monthly provisional statistics released today by the Australian Financial Security Authority (AFSA).
During April, there were 769 new formal personal insolvencies – down from 921 in March.
Of the new personal insolvencies, 437 were bankruptcies, 320 were debt agreements, 11 were personal insolvency agreements and there was 1 deceased estate.
Where we could identify the industry an individual worked in, the most common industries were:
- Health care and social assistance
- Retail trade.
In April 2023, there were 17 new temporary debt protections.
Throughout the period, 175 people who entered bankruptcy were also involved in a business. This is down from 193 in March.
Data in our monthly statistics are provisional and not final. For our final data, please see AFSA’s quarterly personal insolvency statistics.
People experiencing financial stress are encouraged to seek support early. Free confidential assistance is available through the National Debt Helpline.
If you’re facing serious unmanageable debt and considering formal insolvency options, reach out to a registered trustee or registered debt agreement administrator.
More information about our statistics is available at afsa.gov.au/statistics.