Personal insolvencies have jumped more than 10 per cent over the past year, as people in financial difficulty sought help from debt-management firms which have been roundly criticised by key corporate regulators.
- ASIC criticised the “opaque and expensive” agreements
- Credit card debt accounted for almost a third of 7,900 new personal insolvencies in first quarter
- Companies fined, ordered to remove misleading advertising
The Australian Financial Securities Authority (AFSA) said there were 7,900 new personal insolvencie…
Read the full article at: http://www.abc.net.au/news/2017-05-03/personal-insolvencies-surge-11-per-cent/8493756