Personal insolvencies continue to soar in early 2024
Profession
06 March 2024
Personal insolvencies increased by almost a third in January compared with the same period last year, according to the latest AFSA data.
The total number of personal insolvencies climbed to 1,015 for January, rising from 805 in December.
This was also a 31 per cent increase from the total number of personal insolvencies recorded in January 2023.
Of the new personal insolvencies, 553 were bankruptcies, 452 were debt agreements and ten were personal insolvencies.
Workers entering personal insolvency most commonly worked in the construction, healthcare and retail industries, according to the data.
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