Personal insolvencies decreased in June 2023, according to new monthly provisional statistics released today by the Australian Financial Security Authority (AFSA).
During June, there were 901 new formal personal insolvencies – falling from 1,031 in May.
Of the new personal insolvencies, 501 were bankruptcies, 392 were debt agreements, 7 were personal insolvency agreements, and there was 1 insolvent deceased estate.
Where AFSA could identify the industry an individual worked in, the most common industries were:
- Construction
- Retail trade
- Accommodation and food services
In June 2023, there were 20 new temporary debt protections.
Throughout the period, 226 people who entered a formal personal insolvency were also involved in a business – falling from 290 in May.
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 are available at afsa.gov.au/statistics.
