Personal insolvencies up in September quarter 2023

Personal insolvencies across Australia have increased in the September quarter 2023, according to new statistics released today by the Australian Financial Security Authority (AFSA).

There were 3,108 new personal insolvencies in the 3-month period to September 2023 – up from 2,410 in September 2022.

National data shows personal insolvencies rose in all states and territories, except for the Northern Territory where numbers declined.

Of the September quarter 2023 personal insolvencies, just over a quarter were business-related (782).

Australians experiencing financial difficulty are encouraged to seek help early from trusted sources to assist individuals find a solution that works for their circumstances.

Financial counsellors and registered insolvency professionals can help to review individual situations and help plan an appropriate response.

Free confidential assistance is available through the National Debt Helpline or via phone at 1800 007 007.

For help with budgeting, Money Smart has some easy-to-use tools available at moneysmart.gov.au

More information about our statistics is available at afsa.gov.au/statistics.

Summary of national figures:

September quarter 2023:

• 1,727 were bankruptcies
• 1,343 were debt agreements
• 35 were personal insolvency agreements
• 3 insolvent deceased estates
• 782 personal insolvencies were business-related – up from 574 in September 2022.