With the annual personal insolvency statistics for 2022-2023 not yet released, AFSA has released figures for October 2023, showing 951 new personal insolvencies, falling marginally from 978 in September.
Of these, 543 were bankruptcies, 392 were debt agreements, 15 were personal insolvency agreements, and 1 was an insolvent deceased estate.
Where AFSA could identify the industry an individual worked in, the most common were construction, retail, and transport, postal and warehousing. About 25% were also involved in a business.
Most recent AFSA data is that there were 3,108 new personal insolvencies in the September quarter 2023 – up from 2,410 in September 2022, but compared with 7492 in the September quarter of 2018. Personal insolvency numbers – July-Sept 2023 – Murrays Legal
