Personal insolvencies decreased in February 2024, according to new monthly statistics released today by the Australian Financial Security Authority (AFSA).
During February 2024, there were 982 new formal personal insolvencies, dropping from 1,015 in January 2024.
Of the new personal insolvencies, 664 were bankruptcies, 308 were debt agreements, 8 were personal insolvency agreements, and 2 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
- Other services
In February 2024, there were 17 new temporary debt protections.
Throughout the period, 261 people who entered a formal personal insolvency were also involved in a business, rising from 222 in January 2024.
Data provided in the monthly statistics is provisional and not final. For 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 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.
