Personal insolvency activity in Australia remained virtually unchanged in the year to June. Insolvency and Trustee Service Australia reported this week that the 31,488 insolvencies recorded during the year represented a drop of 0.14 per cent on the previous year.
Bankruptcies made up the bulk of insolvency activity, with 22,163 cases, and these were down four per cent on the previous year.
The number of Part IX debt agreements was up 11 per cent, with 8054 cases, and the number of Part X personal insolvency agreements was up 0.8 per cent (378 cases).
The debt collection...
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