Fewer go bankrupt
THE number of bankruptcies has fallen to its lowest level in 20 years, led by a big drop in NSW. Across Australia, there were a total 28,288 personal insolvencies recorded in 2014/ 15, which represented a 4.2 per cent fall from the previous year, the Australian Financial Security Authority said yesterday. By category, bankruptcies fell 7.7 per cent to 17,163, while debt agreements ticked up 1.9 per cent and personal insolvency agreements rose 2.9 per cent. The total number of bankruptcies recorded across the country “in 2014/ 15 were at the lowest level since 1994/ 95”, AFSA said.