Break- ups sending women bankrupt

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.