By Martin North, cross-posted from the Digital Finance Analytics Blog:
WA experienced a 20% rise, in personal insolvencies in 2016-17, according to data released today by The Australian Financial Security Authority. On the other hand there were falls in NSW and VIC, highlighting the different economic conditions across the states.
The number of personal insolvencies increased 2.1% in 201617 compared to 201516. bankruptcies decreased by 5.1%, debt agreements increased 11.9% and personal insolvency agreements increased 39.4%.
Bankruptcies
Bankruptcies have fallen in every year since 200910 except for 201516 (when they increased by 0.2%). New South Wales, Victoria and Queensland were the main contributors to the national fall in bankr…
Read the full article at: https://www.macrobusiness.com.au/2017/07/personal-insolvencies-edge-higher/