NORTHERN Rivers residents are starting to pay off their debts as new figures revealed less people declared bankruptcy in 2016.
The latest figures from the Australian Financial Services Authority showed 35 bankrupt debtors including nine business-related and 26 non-business related insolvencies in the December quarter.
Over the whole year 158 people declared bankruptcy compared with 171 in 2015.
Worrells Solvency and Forensic Accountants partner, Jason Bettles, said the most common problem he saw in clients last year was financial strife following relationship breakdown.
“Just yesterday I had a client, he and his wife separated, when they were together there was just one set of expenses,” Mr Bettles explained.
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Read the full article at: https://www.ballinaadvocate.com.au/news/broke-35-declare-bankruptcy-in-the-region-in-3-mon/3149627/
