Fewer go bank­rupt

Townsville Bulletin - - NEWS -

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.

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