The Australian Financial Security Authority (AFSA) has revealed the personal insolvency statistics for October, highlighting a decrease from the month prior.
A total of 1,116 new personal insolvencies were recorded in October, dropping to 1,116 from 1,169 in September; however, this increased from October 2024, which was measured at 1,009.
You’re out of free articles for this month
Of the personal insolvencies recorded over the month, 601 were bankruptcies, 498 were debt agreements, 17 were personal insolvency agreements and no insolvent deceased estates.
From these numbers, 16 new temporary debt protections were also recorded, which AFSA outlined as a measure that allowed individuals 21 days of relief from…