Australians in financial strife on the rise with bankruptcies up 6pc in 2017 – ABC News

The number of Australians “going under” financially accelerated last year, with personal bankruptcies up 6.1 per cent over the year.

Key points:

  • Bankruptcies rose for the 3rd consecutive year in 2017
  • Queensland had the highest number of bankruptcies last year
  • Men are more likely than women to declare bankruptcy

The increase follows an almost 5 per cent rise in 2016.

Quarterly data released by the Australian Financial Security Authority paints a starkly different picture from the generally more upbeat numbers elsewhere in the domestic economy.

Breaking down the numbers, the credit reporting and debt collection …

Read the full article at: http://www.abc.net.au/news/2018-01-31/personal-invancies-on-the-rise/9375284

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