Fewer Tasmanians have become insolvent and more have been paying down debts during the pandemic period, as government support measures temporarily put more money into the pockets of some people.
Key points:
- New Tasmanian personal insolvencies were at a 30-year low for the last financial year
- A debt collection business is seeing more Tasmanians able to proactively pay down their debts
- There are concerns financial stress will increase as government stimulus and support measures are wound back
But there are concerns that as those measures dry up over coming months, more Tasmanians will be under financial stress and more local businesses may wind up.
Relative to other states and territories, the Tasmanian Government has been more generous in su…
Read the full article at: https://www.abc.net.au/news/2020-10-30/coronavirus-relief-helps-stem-tasmania-covid19-insolvencies/12826824
