AFSA has reported that personal insolvencies increased in the September quarter 2024 compared to September quarter 2023. That is, there were 3,307 new personal insolvencies in the July-September 2024 quarter, up by 199 from 3,108 in September 2023. Personal insolvencies up in September quarter 2024 | Australian Financial Security Authority
Of the September quarter 2024 personal insolvencies, AFSA says over a quarter (27.9%) were ‘business-related’, although the better, usually higher, statistic is the proportion of bankruptcies that were business related.
As I recently reported, in relation to the month of September 2024, personal insolvencies were falling, with 1025 new personal insolvencies, dropping from 1,119 in August 2024, which itself was a fall from 1157 in July 2024. A continued fall in personal insolvencies – Murrays Legal
There were under 12,000 personal insolvencies in 2023-24. AFSA predicts an increase for 2024-2025 to 14,850, still well below the 37,000 of some years ago.
We await the October 2024 numbers.
