NORTH Lakes, north of Brisbane, has emerged as one of Australia’s worst bankruptcy hot spots. According to figures from the Australian Financial Security Authority, the suburb in the heart of Brisbane’s mortgage belt had the highest per capita number of personal insolvencies at the end of March.
The percentage was 0.096 per cent, meaning just under 1 in every 1,000 adults who live there are subject to some type of personal insolvency administration such as bankruptcy. The region had 49 debtors out of a population of 51,039 aged over 18.
Not a large number of people in the greater scheme of things, but according to Brendan Nixon, a partner at SM Solvency Accountants, it could be a sign of things to come as we come out…
Read the full article at: https://www.noosanews.com.au/news/north-lakes-goes-for-broke-as-bankruptcy-hot-spot/4039082/