Media release: Men are more likely than women to enter personal insolvencies

Tuesday, July 21, 2015

See the Gender of insolvent debtors publication.

In 2014, 58% of people who entered into a personal insolvency were male. This is the highest proportion, in this category, of insolvent debtors in six years. Most debtors were male in all types of personal insolvency in 2014:

  • 60% of bankrupts were male
  • 54% of debt agreement debtors were male
  • 70% of personal insolvency agreement debtors were male.

Males are more likely than females to enter a business related personal insolvency. The proportion of debtors who entered a business related personal insolvency has increased compared to 2008:

  • From 18% of male debtors in 2008 to 22% in 2014
  • From 9% of female debtors in 2008 to 13% in 2014.

The most common causes of personal insolvency were the same for both males and females in 2014:

  • Economic conditions when the personal insolvency was business related
  • Unemployment or loss of income when the personal insolvency was non-business related.