Total personal insolvencies went up by 0.9 per cent year-on-year in the December quarter 2016 with debt agreements and personal insolvency agreements increasing by 9.5 per cent and 4.9 per cent, respectively, according to the Australian Financial Security Authority (AFSA).
At the same time, AFSA said that bankruptcies fell by 4.9 per cent year-on-year.
The states and territories which saw growth in personal insolvencies included Western Australia (26.2 per cent), Australian Capital Territory (ACT) (14.8 per cent) and Queensland (0.7 per cent) while debt agreements reached a record high in South Australia.
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Read the full article at: http://www.moneymanagement.com.au/news/financial-planning/total-personal-insolvencies-december
