Media release: Personal insolvencies rise 0.6% in the September quarter

Tue 13 October 2015

The Australian Financial Security Authority today released the personal insolvency activity statistics for the September quarter 2015.

Personal insolvency in Australia: % change compared to the same quarter in previous year

Personal insolvency in the September quarter 2015

Total personal insolvencies increased 0.6% in the September quarter 2015 compared to the September quarter 2014. This is the second consecutive rise, when compared to the previous quarter.

Queensland and Western Australia accounted for most of the national rise in personal insolvencies in the September quarter 2015 compared to the September quarter 2014.

The number of debt agreements in the September quarter 2015 is the highest on record. Debt agreements in New South Wales, Queensland and Northern Territory in the September quarter 2015 are the highest on record for these states and territories.

Debt agreements were the only type of personal insolvency that increased in the September quarter 2015 compared to the September quarter 2014:

  • bankruptcies fell by 0.1%
  • debt agreements increased by 2.4%
  • personal insolvency agreements fell by 33.3%.

Debtors with a business-related personal insolvency

In the September quarter 2015, 17.4% of debtors entered a business related personal insolvency.  This is a rise from 16.3% in the June quarter 2015.

In the September quarter 2015:

  • economic conditions was the most common business related cause (488 debtors)
  • unemployment (2,114 debtors) and excessive use of credit (1,944) were the most common non-business related causes.

See the personal insolvency activity statistics for the September quarter 2015.

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Media enquiries

Media enquiries – please email: media@afsa.gov.au or phone 0408 105 665

For publicly available information about a personal insolvency – you can search the National Personal Insolvency Index for a fee. For a list of index search agents see NPII.

Media release: Personal insolvencies rise 0.6% in the September quarter

AFSA provides general information but does not offer legal advice, legal interpretations or opinions.