Numbers of personal insolvencies continue to fall. A projected 12,000 in 2024-2025 is likely compared with 21,078 five years ago.
The numbers of personal insolvencies continue to fall with only 908 in February 2025, dropping from 940 in January 2025. Provisional personal insolvencies decreased in February 2025 | Australian Financial Security Authority
Numbers have fallen each month from July-December 2024, with only a moderate rise in January 2025.
Over 40% fall in numbers over the last 5 years
On a longer-term perspective, there were only 7,949 personal insolvencies in the 8 months from July 2024 to February 2025; compared with 14,735 in the 8 months from July 2019 to February 2020.
That means that the numbers could be below 12,000 for the 2024-2025 year, below AFSA’s forecast of 13,400.
The projected 12,000 in 2024-2025 compares with 21,078 around 5 years ago, in 2019-2020.
