Debt agreements reached a record level in 2016-17.
Numbers released today by the Australian Financial Security Authority (AFSA) show that debt agreements have reached record levels in 2016-17, a trend that has become an annual tradition since 2011-12.
Debt agreements have increased 11.9% this year compared to 2015-16 and there were record debt agreements in every state and territory bar Tasmania. Personal insolvencies are also on the rise, with an increase of 2.1% from 2015-16 period and bankruptcies have increased 5.1%.
The AFSA publishes annual statistics for personal insolvency which includes bankruptcies, debt agreements and personal insolvency agreements. Interestingly…
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