Australian Personal Insolvencies Fell 52.9% in the March Quarter 2021

In the March quarter 2021, personal insolvency fell 52.9% compared to the March quarter 2020, according to the latest personal insolvency statistics released by Australian Financial Security Authority (AFSA). There were 2,545 personal insolvencies in the March quarter 2021, a 52.9% fall compared to the March quarter 2020. There were falls in all states and territories. The number of personal insolvencies rose 5.8% compared to the December quarter 2020. By type of personal insolvency:

- bankruptcies fell by 47.3%
- debtor’s petitions, a subset of bankruptcies, fell by 45.1%
- sequestration orders, a subset of bankruptcies, fell by 79.5%
- debt agreements fell by 61.4% personal insolvency agreements fell by 55.3%.

In the March quarter 2021, 30.8% of bankruptcies were business related, a fall from 37.3% in the March quarter 2020. Read more.

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