Personal insolvency in WA reached record levels in the March quarter, reflecting the human impact of the end of the mining boom.
Nationally there was a 10.8 per cent rise in personal insolvencies in the quarter but WA led the rise with a massive 26.9 per cent hike compared with the previous corresponding period.
A record 928 people became insolvent in WA between the beginning of the year and the end of March, up 197 on the same period last year.
Of these, 470 were declared bankrupt, 441 entered debt agreements through the Australian Financial Security Authority and 17 entered personal insolvency agreements through a controlling trustee.
Economic conditions were …
Read the full article at: https://thewest.com.au/business/personal-finance/wa-personal-insolvencies-hit-new-record-ng-b88464240z