Break- ups send­ing women bank­rupt

Townsville Bulletin - - NEWS -

NEARLY twice as many women as men filed for per­sonal bank­ruptcy due to re­la­tion­ship break­downs in 2014.

Ac­cord­ing to re­search from the Aus­tralian Fi­nan­cial Se­cu­rity Au­thor­ity, women were more likely to be fi­nan­cially af­fected by re­la­tion­ship fail­ure, with 17 per cent of women cit­ing “do­mes­tic dis­cord or re­la­tion­ship break­down” for caus­ing per­sonal bank­ruptcy com­pared with just 9 per cent of men. This was de­spite men ac­count­ing for 60 per cent of debtors en­ter­ing bank­ruptcy.

Un­em­ploy­ment was listed as the big­gest cause of bank­ruptcy for both gen­ders, with 18,041 debtors en­ter­ing per­sonal bank­ruptcy in 2014, down from 20,511 in 2014.

Men were more likely than women to blame ad­verse le­gal ac­tion, gam­bling and ex­trav­a­gant liv­ing.

More women than men were also likely to claim per­sonal rea­sons in­clud­ing do­mes­tic dishar­mony and bad health for busi­nesses go­ing bank­rupt.

Num­bers of peo­ple en­ter­ing into bank­ruptcy have fallen since 2008.

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