Orange has one of the highest rates of personal bankruptcy in Australia, with 75 people in the city declared bankrupt in 2017.
Statistics from the Australian Financial Security Authority and data research agency illion placed Orange seventh in Australia, and second in NSW, for suburbs with the highest concentration of bankruptcies.
It was a 38 per cent increase compared to 2016 for the city and represents a trend that could get worse, Money Magazine editor Effie Zahos said.
Unfortunately we are seeing a rising trend in people entering debt problems and bankruptcy and it is probably going to get worse, Ms Zahos said.
Talking to illion, they found in a lot of cases it was people extending themselves too far and it was people with a low socioec…
Read the full article at: http://www.centralwesterndaily.com.au/story/5209225/going-for-broke-seventh-highest-rate-of-bankruptcy-in-the-country/
