Personal insolvencies decreased in September 2023, according to new monthly statistics released today by the Australian Financial Security Authority (AFSA).
During September, there were 978 new formal personal insolvencies – falling from 1,198 in August.
Of the new personal insolvencies, 535 were bankruptcies, 433 were debt agreements, 9 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:
- Health care and social assistance
- Construction
- Other services
In September 2023, there were 18 new temporary debt protections.
Throughout the period, 236 people who entered a formal personal insolvency were also involved in a business – falling from 266 in August.
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 Statistics.
