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ARTICLE · 08 MARCH 2018

Bankruptcy alternatives gaining popularity

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Total bankruptcies fell while popular bankruptcy alternatives, debt agreements and personal insolvency agreements, rose.

AustraliaInsolvency/Bankruptcy/Re-Structuring
Aaron Lucan
Aaron Lucan
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Debt Agreements and Personal Insolvency Agreements have reached their highest levels ever!

In mid-February, the Australian Financial Security Authority (AFSA) released the personal insolvency statistics for the final quarter of 2017—giving us the chance to examine the numbers on both a quarterly and annual basis.

Nationally personal insolvency activity declined in December 2017 from September 2017, however a general reduction in personal insolvency in the last quarter of the year has been a regular trend for the last several years. Year-on-year personal insolvencies continued their growth trend, with another 7.4% increase in December 2017.

Graph: Quarterly personal insolvency activity in Australia

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