Insolvency figures released by the Australian Financial Security Authority (AFSA) for the March quarter of 2015 reveal an increase in personal insolvency across Australia.
Compared to the previous quarter, total personal insolvency activity has increased by 1.5% to reach 6,989 cases. In the Northern Territory, insolvency increased by 45.7%, while the number of people affected by insolvency in the Australian Capital Territory rose by 19.0%.
The number of bankruptcies filed increased by 4.8% compared to the December quarter of 2014.
Individuals who filed for Debt Agreements increased in four states and territories across Australia – South Australia, Northern Territory, Tasmania and ACT.
If you are an individual affected by debt, Insolvency Services Australia (ISA) can help. ISA is a team of insolvency practitioners who specialise in handling personal insolvency cases. We are fully licensed and registered to provide services in bankruptcy and bankruptcy alternatives such as Debt Agreements and Personal Insolvency Agreements.
At ISA, we are customer-focused. To determine the most suitable solution for our clients, we offer a free comprehensive debt assessment. We also provide free and impartial advice to all who approach us.
To learn more about ISA’s services, call us today on our 24-hour hotline at 1800 003 883 to find an insolvency solution. All calls are confidential and completely obligation-free.