Personal insolvencies increased in January 2024, according to new monthly statistics released today by the Australian Financial Security Authority (AFSA).
During January, there were 1,015 new formal personal insolvencies, rising from 805 in December.
Of the new personal insolvencies, 553 were bankruptcies, 452 were debt agreements, 10 were personal insolvency agreements. There were no insolvent deceased estates.
Where AFSA could identify the industry an individual worked in, the most common industries were:
- Construction
- Health care and social assistance
- Retail trade
In January 2024, there were 21 new temporary debt protections.
Throughout the period, 222 people who entered a formal personal insolvency were also involved in a business, falling from 232 in December.
Data provided in the monthly statistics is provisional and not final. For final data, please see AFSA’s quarterly personal insolvency statistics.
People experiencing financial stress are encouraged to seek support early. Free confidential assistance is available through the National Debt Helpline.
If you’re facing and considering formal insolvency options, reach out to a registered trustee or registered debt agreement administrator.
More information about our statistics is available at afsa.gov.au/statistics.
