Bankruptcies hit a 24-year low

John Kavanagh Consumer lending

Bankruptcies have fallen to their lowest level in 24 years, with just 3765 in the March quarter.

The Australian Financial Security Authority says the March 2019 figures are down 9 per cent from the same period last year, and are at their lowest level since March 1995.

There were 2552 debt agreements in the March quarter – a 32 per cent fall compared with the March quarter last year. It was the smallest number of debt agreements since the September quarter in 2013.

Total personal insolvencies fell 19 per cent year on year to 6753.