Statistics released by the Australian Financial Security Authority (ASFA) today show the highest rate of bankruptcy among Australians since the June quarter 2016.
The personal insolvency activity statistics for the September 2017 quarter show total personal insolvencies increased by 8% since the September quarter last year, including debt agreements increasing by 17.5% and personal insolvency agreements up by 40.4%.
Over this quarter there were 4,236 bankruptcies equating to 51.7% of total personal insolvencies.
This is the greatest number of bankruptcies in Australia since the July quarter in 2016 where there were 4,512 declared bankruptcies.
The report also said this was the ninth consecutive quarter in…
Read the full article at: https://www.canstar.com.au/personal-loans/bankruptcies-australia-hit-15-month-high/
