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Insolvency numbers kick up

10 April 2014 3:24PM
After falling throughout 2013, personal insolvency numbers kicked up in the March quarter.Figures released by the Australian Financial Security Authority yesterday show that 7655 people were declared bankrupt, entered debt agreements or entered personal insolvency agreements during the March quarter - a 6.1 per cent increase over the previous corresponding period.AFSA said in a media release that bankruptcies rose 3.3 per cent, personal insolvency agreements were down but the 2678 debt agreements entered into during the quarter was the highest number on record in a quarter. Personal insolvency activity numbers were down in all four quarters last year. AFSA did not provide any commentary on the turnaround this year.

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