Personal insolvencies decreased in March 2024, according to new monthly statistics released today by the Australian Financial Security Authority (AFSA).
During March 2024, there were 980 new personal insolvencies - dropping from 982 in February 2024.
Of the new personal insolvencies, 592 were bankruptcies, 375 were debt agreements, 13 were personal insolvency agreements, and there were no 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 March 2024, there were 16 new temporary debt protections.
Throughout the period, 255 people who entered a formal personal insolvency were also involved in a business - dropping from 261 in February 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.
