Personal insolvencies increased in April 2024, according to new provisional monthly statistics released today by the Australian Financial Security Authority (AFSA).
In April 2024, there were 1,046 new personal insolvencies - rising from 980 in March 2024.
Of the new personal insolvencies, 584 were bankruptcies, 447 were debt agreements, 14 were personal insolvency agreements, and one was an insolvent deceased estate.
Where AFSA could identify the industry in which an individual worked, the most common industries were:
- construction
- health care and social assistance
- transport, postal and warehousing.
There were also 26 new temporary debt protections.
During the same period, 248 people who entered a formal personal insolvency were also involved in a business - a reduction from 255 in March 2024.
Data provided in the monthly statistics is provisional and not final. For final quarterly data, visit AFSA’s quarterly personal insolvency statistics at Quarterly personal insolvency statistics.
People experiencing financial stress are encouraged to seek support early. Free confidential assistance is available through the National Debt Helpline – www.ndh.org.au.
For anyone facing and considering formal insolvency options, reach out to a registered trustee or registered debt agreement administrator.
For more information about these statistics, visit Monthly personal insolvency statistics.
