The Insolvency Trustee Service Australia has released the 2008/2009 Personal Insolvency Statistics.
The statistics reveal the following:
- 11% annual increase in total Personal Insolvency appointments
- 29% annual increase in Debt Agreement appointments
The statistics reveal that many Australians (8,567) in the last 12 months (July 2008 to June 2009) avoided formal bankruptcy by entering into a legally binding Debt Agreement with their creditors.
27,503 Australians couldn’t avoid bankruptcy and were declared bankrupt in the same period.
| ADMINISTRATIONS UNDER THE BANKRUPTCY ACT 1966 STATISTICS (PROVISIONAL*) JULY 2008 – JUNE 2009 |
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| Bankruptcies | Debt Agreements | Personal Insolvency Agreements | Total Personal Insolvency Activity | |||||||||
| 08/09 | 07/08 | % Change | 08/09 | 07/08 | % Change | 08/09 | 07/08 | % Change | 08/09 | 07/08 | % Change | |
| NSW | 10,499 | 9,934 | 5.69% | 2,876 | 2210 | 30.14% | 84 | 58 | 44.83% | 13,459 | 12,202 | 10.30% |
| ACT | 245 | 214 | 14.49% | 100 | 83 | 20.48% | 3 | 1 | 200.00% | 348 | 298 | 16.78% |
| VIC | 5,980 | 5,725 | 4.45% | 2,351 | 1877 | 25.25% | 249 | 134 | 85.82% | 8,580 | 7,736 | 10.91% |
| QLD | 6,232 | 5,708 | 9.18% | 2,096 | 1647 | 27.26% | 34 | 42 | -19.05% | 8,362 | 7,397 | 13.05% |
| SA | 1,944 | 2,081 | -6.58% | 291 | 222 | 31.08% | 13 | 7 | 85.71% | 2,248 | 2,310 | -2.68% |
| NT | 102 | 125 | -18.40% | 65 | 61 | 6.56% | 0 | 0 | 0.00% | 167 | 186 | -10.22% |
| WA | 1,660 | 1,431 | 16.00% | 562 | 379 | 48.28% | 23 | 32 | -28.13% | 2,245 | 1,842 | 21.88% |
| TAS | 841 | 752 | 11.84% | 226 | 139 | 62.59% | 3 | 3 | 0.00% | 1,070 | 894 | 19.69% |
| Total | 27,503 | 25,970 | 5.90% | 8,567 | 6618 | 29.45% | 409 | 277 | 47.65% | 36,479 | 32,865 | 11.00% |
*Personal Insolvency Statistics sourced from ITSA
