The combination of flatlining wages and big mortgages is driving up the number of people filing for bankruptcy.
The Australian Financial Security Authority has revealed that bankruptcies and private debt agreements nationally and in WA are at their highest since the global financial crisis.
But figures from NAB yesterday confirmed a different story for the business sector, with conditions and confidence lifting in December.
Only the retail sector remains in negative territory.
In the final three months of 2017, personal insolvencies rose 7.4 per cent over the past year, AFSA figures showed.
Bankruptcies climbed 1.3 per cent, debt agreements jumped 15.3 per cent and personal insolvency agreements increased 14 per cent.
Increases were reported …
Read the full article at: https://thewest.com.au/news/wa/more-west-aussies-forced-to-file-for-bankruptcy-ng-b88728944z
