Annual 2015 – 2016 Personal Insolvency Statistics

Annual statistics

Provisional annual personal insolvency statistics 2015-16
State / territory Bankruptcies (Parts IV and XI) Debt agreements (Part IX) Personal insolvency agreements
(Part X)
Total insolvency activity
NSW 4,971 3,750 45 8,766
ACT 166 202 1 369
Vic 3,478 2,344 43 5,865
Qld 5,200 3,668 44 8,912
SA 1,164 536 9 1,709
NT 100 155 1 256
WA 1,682 1,237 26 2,945
Tas 441 258 6 705
Total 17,202 12,150 175 29,527

Note 1: All the above figures refer to personal administrations under the Bankruptcy Act only (and not corporate insolvency).

Graph: Annual personal insolvency activity in Australia

Annual personal insolvency activity in Australia


Key points

  • The number of personal insolvencies increased 4.4% in 2015–16 compared to 2014–15. By type of personal insolvency:
    • bankruptcies increased 0.2%
    • debt agreements increased 11.4%
    • personal insolvency agreements fell 18.2%.
  • The rise in bankruptcies in 2015–16 is the first annual rise since 2008–09.
  • Western Australia and Queensland were the main contributors to the national rise in bankruptcies in 2015–16 compared to 2014–15.
  • Bankruptcies in South Australia in 2015–16 fell to the lowest level on record.
  • Debt agreements in 2015–16 were the highest level on record. They have reached new records each year since 2011–12.
  • Debt agreements in 2015–16 were the highest level on record in all states and territories except the Australian Capital Territory, Victoria and Tasmania.
  • Personal insolvency agreements in 2015–16 reached their lowest level since 2005–06.

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Total personal insolvency activity

There were 29,527 personal insolvencies in 2015–16, a rise of 4.4% from 28,288 in 2014–15.

The rise in personal insolvencies in 2015–16 compared to 2014–15 was the result of increases in:

  • Queensland (9.3%)
  • Western Australia (19.5%)
  • Victoria (1.8%)
  • Northern Territory (15.3%).

These rises were partly offset by falls in:

  • New South Wales (-0.7%)
  • Tasmania (-4.9%)
  • Australian Capital Territory (-4.9%)
  • South Australia (-0.8%).

The rise in personal insolvencies in 2015–16 compared to 2014–15 follows falls since 2010-11.

Total personal insolvency activity in Australia: % change compared to the previous year

Total personal insolvency activity in Australia: percentage change compared to previous year

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Bankruptcies

There were 17,202 bankruptcies in 2015–16, a rise of 0.2% from 17,163 in 2014–15.

The rise in bankruptcies in 2015–16 compared to 2014–15 was the result of increases in:

  • Western Australia (22.7%)
  • Queensland (4.3%).

These increases were partly offset by falls in:

  • New South Wales (-6.9%)
  • Victoria (-2.1%)
  • Tasmania (-3.7%)
  • Australian Capital Territory (-8.8%)
  • South Australia (-0.6%)
  • Northern Territory (-4.8%).

This is the first annual rise in bankruptcies since 2008–09.

Bankruptcies in Australia: % change compared to the previous year

Bankruptcies in Australia: percentage change compared to previous year

Debt agreements

There were 12,150 debt agreements in 2015–16, an increase of 11.4% from 10,911 in 2014–15. Debt agreements were the highest number on record in 2015–16.

The rise in debt agreements in 2015–16 compared to 2014–15 was the result of rises in the number of debt agreements in:

  • Queensland (17.6%)
  • New South Wales (9.1%)
  • Victoria (8.8%)
  • Western Australia (15.8%)
  • Northern Territory (33.6%)
  • South Australia (0.8%).

These rises were partly offset by falls in:

  • Tasmania (-8.2%)
  • Australian Capital Territory (-1.0%).

Debt agreements have increased in each year compared to the previous year since 2011–12.

Debt agreements in Australia: % change compared to the previous year

Debt agreements in Australia: percentage change compared to previous year

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Personal insolvency agreements

Personal insolvency agreements fluctuate more than bankruptcies and debt agreements because they are so small.

There were 175 personal insolvency agreements in 2015–16, a fall of 18.2% from 214 in 2014–15.

The decrease in personal insolvency agreements in 2015–16 compared to 2014–15 was the result of falls in:

  • Victoria (-23.2%)
  • New South Wales (-18.2%)
  • South Australia (-52.6%)
  • Queensland (-17.0%)
  • Australian Capital Territory (-50.0%).

These falls were partly offset by a rise in Tasmania (200.0%, from 2 to 6 personal insolvency agreements). Personal insolvency agreements in Western Australia and the Northern Territory were unchanged in 2015–16 compared to 2014–15.

The annual fall in personal insolvency agreements in 2015–16 follows a rise in 2014–15.

Personal insolvency agreements in Australia: % change compared to the previous year

Personal insolvency agreements in Australia: percentage change compared to previous year

Jun 2015 Statistics

Commentary: June quarter 2015

Read more about personal insolvency activity in the June quarter 2015.

Quarterly personal insolvency activity in Australia

Quarterly personal insolvency activity in Australia

 

Key points

  • Total personal insolvencies increased 0.9% in the June quarter 2015 compared to the June quarter 2014. By type of personal insolvency:
    • bankruptcies increased 9.3%
    • debt agreements fell 10.1%
    • personal insolvency agreements increased 8.3%.
  • The rise in bankruptcies in the June quarter 2015 is the first rise since the March quarter 2014, when compared to the same quarter in the previous year.
  • Queensland and Western Australia accounted for most of the national rise in bankruptcies in the June quarter 2015 compared to the June quarter 2014.
  • Debt agreements were the highest on record in the Northern Territory in the June quarter 2015. This was the only state or territory where debt agreements increased in the June quarter 2015 compared to the June quarter 2014.

 

Total personal insolvency activity

The number of personal insolvencies increased 0.9% in the June quarter 2015 (6 945) compared to the June quarter 2014 (6 884) and fell 0.6% compared to the March quarter 2015 (6 989).

The rise in personal insolvencies in the June quarter 2015 compared to the June quarter 2014 was the result of rises in:

  • Western Australia (13.9%)
  • Queensland (3.8%)
  • South Australia (13.3%)
  • Victoria (0.8%)
  • Northern Territory (12.5%).

These rises were partly offset by falls in:

  • New South Wales (-6.0%)
  • Tasmania (-9.2%)
  • Australian Capital Territory (-8.4%).

The rise in personal insolvencies in the June quarter 2015 is the first rise since the March quarter 2014, when compared to the same quarter in the previous year.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity in Australia: percentage change compared to the previous year

 

Bankruptcies

The number of bankruptcies increased 9.3% in the June quarter 2015 (4 215) compared to the June quarter 2014 (3 857) and fell 3.7% compared to the March quarter 2015 (4 379).

The rise in bankruptcies in the June quarter 2015 compared to the June quarter 2014 was the result of rises in:

  • Queensland (10.8%)
  • Western Australia (43.5%)
  • Victoria (8.1%)
  • South Australia (19.5%)
  • Tasmania (8.0%)
  • Australian Capital Territory (7.7%).

The Northern Territory was the only state or territory to record a fall (-4.5%). There was no change in the number of bankruptcies in New South Wales.

The rise in bankruptcies in the June quarter 2015 is the first rise since the March quarter 2014, when compared to the same quarter in the previous year.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcies in Australia: percentage change compared to same quarter in previous year

 

Debt agreements

The number of debt agreements fell 10.1% in the June quarter 2015 (2 678) compared to the June quarter 2014 (2 979) and increased 4.3% compared to the March quarter 2015 (2 568).

The fall in debt agreements in the June quarter 2015 compared to the June quarter 2014 was the result of falls in:

  • New South Wales (-13.9%)
  • Victoria (-10.1%)
  • Queensland (-5.6%)
  • Western Australia (-10.3%)
  • Tasmania (-29.4%)
  • Australian Capital Territory (-23.6%)
  • South Australia (-0.8%).

The Northern Territory was the only state or territory to record a rise (26.9%).

The fall in debt agreements in the June quarter 2015 is the second consecutive fall, when compared to the same quarter in the previous year.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements in Australia: percentage change compared to previous year

 

Personal insolvency agreements

Personal insolvency agreements fluctuate more than bankruptcies and debt agreements because they are so small.

The number of personal insolvency agreements increased 8.3% in the June quarter 2015 (52) compared to the June quarter 2014 (48) and increased 23.8% compared to the March quarter 2015 (42).

The rise in personal insolvency agreements in the June quarter 2015 compared to the June quarter 2014 was the result of rises in:

  • Victoria (54.5%)
  • South Australia (150.0%).

These rises were partly offset by falls in:

  • Western Australia (-40.0%)
  • New South Wales (-7.1%).

There was no change in the Australian Capital Territory, the Northern Territory and Tasmania.

The rise in personal insolvency agreements in the June quarter 2015 is the first rise since the September quarter 2014, when compared to the same quarter in the previous year.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements in Australia: percentage change compared to previous year

Mar 2015 Statistics

Commentary: March quarter 2015

Read more about personal insolvency activity in the March quarter 2015.

Quarterly personal insolvency activity in Australia

Quarterly personal insolvency activity in Australia

 

Key points

  • Personal insolvencies fell 8.7% in the March quarter 2015 compared to the March quarter 2014. There were falls in all three types of personal insolvency.
  • Bankruptcies fell 11.2% in March quarter 2015 compared to the March quarter 2014.
  • Bankruptcies have fallen in four consecutive quarters compared to the same quarter in the previous year. All of these falls have been higher than 10%.
  • Debt agreements fell 4.1% in the March quarter 2015 compared to the March quarter 2014. This is the first annual fall in debt agreements since the March quarter 2013 compared to the March quarter 2012.
  • Personal insolvency agreements fell 6.7% in the March quarter 2015 compared to the March quarter 2014.

 

Total personal insolvency activity

Total personal insolvency activity fell 8.7% in the March quarter 2015 (6989) compared to the March quarter 2014 (7655) and increased 1.5% compared to the December quarter 2014 (6888).

The fall in total personal insolvency activity in the March quarter 2015 compared to the March quarter 2014 was the result of falls in total personal insolvency activity in:

  • New South Wales (-12.4%)
  • Queensland (-9.9%)
  • Victoria (-7.1%)
  • Western Australia (-7.3%)
  • Tasmania (-5.5%)
  • South Australia (-0.5%).

These falls were partly offset by increases in the Northern Territory (45.7%) and the Australian Capital Territory (19.0%).

The 8.7% fall in total personal insolvency activity in the March quarter 2015 compared to the March quarter 2014 follows an 8.1% fall in the December quarter 2014 compared to the December quarter 2013.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

 

Bankruptcies

The number of bankruptcies fell 11.2% in the March quarter 2015 (4379) compared to the March quarter 2014 (4932) and increased 4.8% compared to the December quarter 2014 (4179). This is the fourth consecutive quarter where bankruptcies fell more than 10% compared to the same quarter in the previous year.

The decrease in bankruptcies in the March quarter 2015 compared to the March quarter 2014 was the result of falls in the number of bankruptcies in:

  • New South Wales (-17.5%)
  • Queensland (-11.1%)
  • Victoria (-7.7%)
  • South Australia (-8.7%)
  • Tasmania (-12.2%)
  • Western Australia (-2.6%).

These falls were partly offset by increases in:

  • Northern Territory (52.6%)
  • Australian Capital Territory (25.6%).

The 11.2% fall in bankruptcies in the March quarter 2015 compared to the March quarter 2014 follows a fall of 13.7% in the December quarter 2014 compared to the December quarter 2013.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcies in Australia: percentage change compared to same quarter in previous year

 

Debt agreements

The number of debt agreements fell 4.1% in the March quarter 2015 (2568) compared to the March quarter 2014 (2678) and fell 3.3% compared to the December quarter 2014 (2655).

The fall in debt agreements in the March quarter 2015 compared to the March quarter 2014 was the result of falls in the number of debt agreements in:

  • Queensland (-8.2%)
  • Western Australia (-14.6%)
  • Victoria (-5.2%)
  • New South Wales (-2.4%).

These falls were partly offset by increases in:

  • South Australia (24.8%)
  • Northern Territory (37.5%)
  • Tasmania (10.0%)
  • Australian Capital Territory (11.1%).

The 4.1% fall in debt agreements in the March quarter 2015 compared to the March quarter 2014 follows a rise of 2.5% in the December quarter 2014 compared to the December quarter 2013.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements in Australia: percentage change compared to same quarter in previous year

 

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.6% of total personal insolvency activity in the March quarter 2015.

The number of personal insolvency agreements fell 6.7% in the March quarter 2015 (42) compared to the March quarter 2014 (45) and fell 22.2% compared to the December quarter 2014 (54).

The fall in personal insolvency agreements in the March quarter 2015 compared to the March quarter 2014 was the result of falls in the number of personal insolvency agreements in:

  • Victoria (-42.9%)
  • New South Wales (-25.0%).

These falls were partly offset by increases in:

  • Queensland (42.9%)
  • Western Australia (25.0%)
  • Australian Capital Territory (1 personal insolvency agreement in the March quarter 2015, an increase from 0 in the March quarter 2014).

There was no change in the Northern Territory and Tasmania.

The 6.7% fall in personal insolvency agreements in the March quarter 2015 compared to the March quarter 2014 follows a fall of 10.0% in personal insolvency agreements in the December quarter 2014 compared to the December quarter 2013.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements in Australia: percentage change compared to same quarter in previous year

Dec 2014 Statistics

Commentary: December quarter 2014

Sep 2014 Statistics

Commentary: September quarter 2014

Read more about personal insolvency activity in the September quarter 2014.

Quarterly personal insolvency activity in Australia

Quarterly personal insolvency activity in Australia

Key points

  • Bankruptcies fell 11.6% percent in the September quarter 2014 compared to the September quarter 2013. There were falls in all states and territories except the Northern Territory and South Australia.
  • Debt agreements in the September quarter 2014 are the highest number on record in a quarter. The previous record for a quarter was in the June quarter 2014.
  • Debt agreements in the Australian Capital Territory, Northern Territory and Western Australia in the September quarter 2014 are the highest number on record in a quarter.
  • Personal insolvency agreements increased 20.0% in the September quarter 2014 compared to the September quarter 2013. This is the first rise compared to the same quarter in the previous year since the March quarter 2012.
  • The rise in debt agreements and personal insolvency agreements did not offset the fall in bankruptcies. As a result, total personal insolvency activity fell 0.2% in the September quarter 2014 compared to the September quarter 2013.
  • New South Wales was the main contributor to the national fall in total personal insolvency. The number of debtors in New South Wales fell by 147 debtors in the September quarter 2014 compared to the September quarter 2013. The number of debtors fell by 16 debtors over the same period nationally.

 

Total personal insolvency activity

Total personal insolvency activity fell 0.2% in the September quarter 2014 (7 466) compared to the September quarter 2013 (7 482) and increased 8.5% compared to the June quarter 2014 (6 884).

The fall in total personal insolvency activity in the September quarter 2014 compared to the September quarter 2013 was the result of falls in total personal insolvency activity in:

  • New South Wales (-5.8%)
  • Queensland (-0.3%)
  • South Australia (-0.9%).

These falls were partly offset by increases in:

  • Victoria (3.4%)
  • Western Australia (6.0%)
  • Northern Territory (63.2%)
  • Australian Capital Territory (26.7%)
  • Tasmania (3.5%).

The 0.2% fall in total personal insolvency activity in the September quarter 2014 compared to the September quarter 2013 follows a 9.0% fall in the June quarter 2014 compared to the June quarter 2013.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity in Australia: % year change compared to same quarter in previous year

 

Bankruptcies

The number of bankruptcies fell 11.6% in the September quarter 2014 (4 390) compared to the September quarter 2013 (4 968) and increased 13.8% compared to the June quarter 2014 (3 857).

The decrease in bankruptcies in the September quarter 2014 compared to the September quarter 2013 was the result of falls in the number of bankruptcies in:

  • New South Wales (-14.3%)
  • Queensland (-11.3%)
  • Victoria (-12.5%)
  • Western Australia (-15.1%)
  • Australian Capital Territory (-13.3%)
  • Tasmania (-2.3%).

These falls were partly offset by increases in:

  • Northern Territory (72.2%)
  • South Australia (0.3%).

The 11.6% fall in bankruptcies in the September quarter 2014 compared to the September quarter 2013 follows a fall of 25.1% in the June quarter 2014 compared to the June quarter 2013.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcies in Australia: % change compared to same quarter in previous year

 

Debt agreements

The number of debt agreements in the September quarter 2014 is the highest number on record in a quarter, following the previous record in the June quarter 2014. The number of debt agreements increased 22.4% in the September quarter 2014 (3 010) compared to the September quarter 2013 (2 459) and rose 1.0% compared to the June quarter 2014 (2 979).

The increase in debt agreements in the September quarter 2014 compared to the September quarter 2013 was the result of increases in the number of debt agreements in:

  • Victoria (39.4%)
  • Queensland (22.3%)
  • Western Australia (45.5%)
  • New South Wales (10.0%)
  • Australian Capital Territory (70.7%)
  • Northern Territory (50.0%)
  • Tasmania (14.9%)

These increases were partly offset by a fall in South Australia (-4.3%).

The 22.4% rise in debt agreements in the September quarter 2014 compared to the September quarter 2013 follows a rise of 27.1% in the June quarter 2014 compared to the June quarter 2013.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements in Australia: % change compared to same quarter in previous year

 

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.9% of total personal insolvency activity in the September quarter 2014.

The number of personal insolvency agreements increased 20.0% in the September quarter 2014 (66) compared to the September quarter 2013 (55) and increased 37.5% compared to the June quarter 2014 (48).

The increase in personal insolvency agreements in the September quarter 2014 compared to the September quarter 2013 was the result of increases in the number of personal insolvency agreements in:

  • New South Wales (37.5%)
  • Queensland (21.4%)
  • Victoria (6.3%)
  • South Australia (100.0%)
  • Northern Territory (one debt agreement, an increase from zero in the June quarter 2014).

These increases were partly offset by a fall in Western Australia (-12.5%). There was no change in the Australian Capital Territory and Tasmania.

The 20.0% rise in personal insolvency agreements in the September quarter 2014 compared to the September quarter 2013 follows a fall of 33.3% in personal insolvency agreements in the June quarter 2014 compared to the June quarter 2013.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Jun 2014 Quarter Stats

Quarterly personal insolvency activity in Australia

Quarterly personal insolvency activity in Australia

Key points

  • Total personal insolvency activity in the June quarter 2014 reached the lowest level since the December quarter 2005.
  • Total personal insolvency activity fell in all states and territories except Western Australia and the Northern Territory in the June quarter 2014 compared to the June quarter 2013.
  • Bankruptcies in the June quarter 2014 reached the lowest level since the June quarter 1995.
  • Bankruptcies fell 25.14% in the June quarter 2014 compared to the June quarter 2013.
  • Bankruptcies fell in all states and territories in the June quarter 2014 compared to the June quarter 2013.
  • The number of debt agreements in the June quarter 2014 is the highest number on record in a quarter. The previous record for a quarter was in the March quarter 2014.
  • Debt agreements in New South Wales, Australian Capital Territory, Queensland and Western Australia in the June quarter 2014 are the highest number on record in a quarter.
  • The rise in debt agreements did not offset falls in bankruptcies and personal insolvency agreements. As a result, total personal insolvency activity fell 9.04% in the June quarter 2014 compared to the June quarter 2013.

Total personal insolvency activity

Total personal insolvency activity fell 9.04% in the June quarter 2014 (6 884) compared to the June quarter 2013 (7 568) and fell 10.07% compared to the March quarter 2014 (7 655).

The fall in total personal insolvency activity in the June quarter 2014 compared to the June quarter 2013 was the result of falls in total personal insolvency activity in:

  • New South Wales (-9.10%)
  • Victoria (-11.41%)
  • South Australia (-27.33%)
  • Queensland (-5.45%)
  • Tasmania (-14.75%)
  • Australian Capital Territory (-6.14%).

These falls were partly offset by increases in:

  • Western Australia (1.65%)
  • Northern Territory (4.35%).

The 9.04% fall in total personal insolvency activity in the June quarter 2014 compared to the June quarter 2013 follows a 6.11% increase in the March quarter 2014 compared to the March quarter 2013.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Bankruptcies

The number of bankruptcies fell 25.14% in the June quarter 2014 (3 857) compared to the June quarter 2013 (5 152) and fell 21.80% compared to the March quarter 2014 (4 932).

The decrease in bankruptcies in the June quarter 2014 compared to the June quarter 2013 was the result of falls in the number of bankruptcies in all states and territories:

  • New South Wales (-23.81%)
  • Queensland (-22.27%)
  • Victoria (-26.26%)
  • South Australia (-38.04%)
  • Western Australia (-27.76%)
  • Tasmania (-28.06%)
  • Australian Capital Territory (-13.33%)
  • Northern Territory (-4.35%).

The 25.14% fall in bankruptcies in the June quarter 2014 compared to the June quarter 2013 follows an increase of 3.31% in the March quarter 2014 compared to the March quarter 2013.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcies by debtor’s petition and sequestration order by month

The number of bankruptcies on debtor’s petition fell 27.73% in the June quarter 2014 compared to the June quarter 2013 (3 367 compared to 4 659). Eighty seven percent of bankruptcies were on debtor’s petition in the June quarter 2014, a fall from 91% in the June quarter 2013.

Number of bankruptcies on debtor’s petition by month

2012 2013 2014
Number of bankruptcies on debtor’s petition: April

1522

1583

1012

Number of bankruptcies on debtor’s petition: May

1860

1699

1109

Number of bankruptcies on debtor’s petition: June

1433

1377

1246

Number of bankruptcies on debtor’s petition: June quarter

4815

4659

3367

Thirteen percent of bankruptcies were on sequestration orders in the June quarter 2014, an increase from 9% in the June quarter 2013.

Number of bankruptcies on sequestration order by month

2012 2013 2014
Number of bankruptcies on sequestration order: April

201

143

160

Number of bankruptcies on sequestration order: May

191

178

177

Number of bankruptcies on sequestration order: June

156

162

149

Number of bankruptcies on sequestration order: June quarter

548

483

486

Note: Our total bankruptcy statistics include administrations under Part XI of the Bankruptcy Act – the administration of the estate of a deceased person.

Debt agreements

The number of debt agreements in the June quarter 2014 is the highest number on record in a quarter, following the previous record in the March quarter 2014. The number of debt agreements increased 27.09% in the June quarter 2014 (2 979) compared to the June quarter 2013 (2 344) and rose 11.24% compared to the March quarter 2014 (2 678).

The increase in debt agreements in the June quarter 2014 compared to the June quarter 2013 was the result of increases in the number of debt agreements in all states and territories:

  • Queensland (33.70%)
  • New South Wales (22.19%)
  • Victoria (25.71%)
  • Western Australia (55.91%)
  • South Australia (8.55%)
  • Tasmania (8.97%)
  • Northern Territory (13.04%)
  • Australian Capital Territory (3.77%).

The 27.09% rise in debt agreements in the June quarter 2014 compared to the June quarter 2013 follows a rise of 12.71% in the March quarter 2014 compared to the March quarter 2013.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.70% of total personal insolvency activity in the June quarter 2014.

The number of personal insolvency agreements fell 33.33% in the June quarter 2014 (48) compared to the June quarter 2013 (72) and increased 6.67% compared to the March quarter 2014 (45).

The fall in personal insolvency agreements in the June quarter 2014 compared to the June quarter 2013 was the result of decreases in the number of personal insolvency agreements in:

  • Victoria (-60.71%)
  • New South Wales (-33.33%)
  • Queensland (-15.38%)
  • Australian Capital Territory (fell to zero debt agreements in the June quarter 2014).

These falls were partly offset by a rise in Western Australia (42.86%). There was no change in the Northern Territory, South Australia and Tasmania.

The 33.33% fall in personal insolvency agreements in the June quarter 2014 compared to the June quarter 2013 follows a fall of 29.69% in personal insolvency agreements in the March quarter 2014 compared to the March quarter 2013.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Mar 2014 Quarter Stats

Quarterly personal insolvency activity in Australia

Quarterly personal insolvency activity in Australia

Key points

  • Bankruptcies increased 3.31% in the March quarter 2014 compared to the March quarter 2013.
  • The number of debt agreements in the March quarter 2014 is the highest number on record in a quarter.
  • Debt agreements in Queensland and Western Australia in the March quarter 2014 are the highest number on record in a quarter.
  • The number of personal insolvency agreements in the March quarter 2014 is the lowest number recorded since the March quarter 2007.
  • The fall in personal insolvency agreements did not offset increases in bankruptcies and debt agreements. As a result, total personal insolvency activity increased 6.11% in the March quarter 2014 compared to the March quarter 2013.
  • Victoria and Western Australia recorded the highest increases in total personal insolvency activity, increasing 15.21% and 19.47% respectively in the March quarter 2014 compared to the March quarter 2013.

Total personal insolvency activity

Total personal insolvency activity increased 6.11% in the March quarter 2014 (7 655) compared to the March quarter 2013 (7 214) and rose 2.16% compared to the December quarter 2013 (7 493).

The increase in total personal insolvency activity in the March quarter 2014 compared to the March quarter 2013 was the result of increases in total personal insolvency activity in:

  • Victoria (15.21%)
  • Queensland (7.02%)
  • Western Australia (19.47%)
  • New South Wales (1.32%).

These increases were partly offset by falls in:

  • South Australia (-5.07%)
  • Northern Territory (-28.57%)
  • Australian Capital Territory (-10.64%)
  • Tasmania (-1.00%).

The 6.11% increase in total personal insolvency activity in the March quarter 2014 compared to the March quarter 2013 follows a 4.49% fall in the December quarter 2013 compared to the December quarter 2012.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Bankruptcies

The number of bankruptcies increased 3.31% in the March quarter 2014 (4 932) compared to the March quarter 2013 (4 774) and increased 1.82% compared to the December quarter 2013 (4 844). This is the first increase compared to the same period in the previous year since the September quarter 2012.

The increase in bankruptcies in the March quarter 2014 compared to the March quarter 2013 was the result of increases in the number of bankruptcies in:

  • Victoria (8.67%)
  • New South Wales (3.28%)
  • Queensland (2.27%)
  • Western Australia (9.01%).

These increases were partly offset by falls in:

  • Australian Capital Territory (-33.90%)
  • South Australia (-3.01%)
  • Northern Territory (-17.39%)
  • Tasmania (-0.71%).

The 3.31% increase in bankruptcies in the March quarter 2014 compared to the March quarter 2013 follows a fall of 7.89% in the December quarter 2013 compared to the December quarter 2012.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcies in Australia: % change compared to same quarter in previous year

Changes to bankruptcy fees

A person can become bankrupt by filing his or her own debtor’s petition with the Official Receiver or by a sequestration order made by the court on the petition of a creditor.

The Australian Government stated in the Mid Year Economic and Fiscal Outlook that personal insolvency fees would be increased to fully recover the costs of administering personal insolvencies.

A new fee for the lodgement of a debtor’s petition will commence from 1 April 2014. The number of bankruptcies on debtor’s petition was relatively stable in the March quarter 2014 compared to the March quarter 2013 (4 400 compared to 4 388). Eighty nine percent of bankruptcies were on debtor’s petition in the March quarter 2014, a fall from 92% in the March quarter 2013.

Number of bankruptcies on debtor’s petition by month

2012 2013 2014
Number of bankruptcies on debtor’s petitions: January 1568 1451 1237
Number of bankruptcies on debtor’s petition: February 1756 1496 1501
Number of bankruptcies on debtor’s petition: March 1701 1441 1662
Number of bankruptcies on debtor’s petition: March quarter 5025 4388 4400

The Federal Court and Federal Circuit Court Regulation 2012 sets fees that are payable in proceedings in the Federal Court of Australia and the Federal Circuit Court of Australia. From 1 January 2013, the filing fee for creditors increased. Eleven percent of bankruptcies were on sequestration orders in the March quarter 2014, an increase from 8% in the March quarter 2013.

Number of bankruptcies on sequestration order by month

2012 2013 2014
Number of bankruptcies on sequestration order: January 59 95 128
Number of bankruptcies on sequestration order: February 238 139 236
Number of bankruptcies on sequestration order: March 228 152 168
Number of bankruptcies on sequestration order: March quarter 525 386 532

Debt agreements

The number of debt agreements in the March quarter 2014 is the highest number on record in a quarter. The number of debt agreements increased 12.71% in the March quarter 2014 (2 678) compared to the March quarter 2013 (2 376) and rose 3.44% compared to the December quarter 2013 (2 589).

The increase in debt agreements in the March quarter 2014 compared to the March quarter 2013 was the result of increases in the number of debt agreements in:

  • Victoria (30.97%)
  • Queensland (17.56%)
  • Western Australia (41.27%)
  • Australian Capital Territory (28.57%).

These increases were partly offset by falls in:

  • South Australia (-11.76%)
  • New South Wales (-1.29%)
  • Northern Territory (-38.46%).

The number of debt agreements in Tasmania was stable in the March quarter 2014 compared to the March quarter 2013.

The 12.71% rise in debt agreements in the March quarter 2014 compared to the March quarter 2013 follows a rise of 3.15% in the December quarter 2013 compared to the December quarter 2012.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.59% of total personal insolvency activity in the March quarter 2014.

The number of personal insolvency agreements in the March quarter 2014 is the lowest number recorded since the March quarter 2007. The number of personal insolvency agreements fell 29.69% in the March quarter 2014 (45) compared to the March quarter 2013 (64) and fell 25.00% compared to the December quarter 2013 (60).

The fall in personal insolvency agreements in the March quarter 2014 compared to the March quarter 2013 was the result of decreases in the number of personal insolvency agreements in:

  • New South Wales (-40.00%)
  • Western Australia (-38.46%)
  • Victoria (-17.65%)
  • Queensland (-30.00%)
  • Tasmania (-100.00%).

These falls were partly offset by a rise in South Australia (33.33%). There was no change in the Northern Territory and the Australian Capital Territory.

The 29.69% fall in personal insolvency agreements in the March quarter 2014 compared to the March quarter 2013 follows a fall of 21.05% in personal insolvency agreements in the December quarter 2013 compared to the December quarter 2012.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

 

Dec 2013 Quarter Stats

Provisional personal insolvency activity December quarter 2013

State/territory Bankruptcies (Parts IV and XI) Debt agreements (Part IX) Personal insolvency agreements (Part X) Total personal insolvency activity
NSW 1582 893 12 2487
ACT 48 47 1 96
Vic 1043 482 24 1549
QLD 1351 748 16 2115
SA 325 128 2 455
NT 29 26 0 55
WA 327 194 5 526
Tas 139 71 0 210
Total 4844 2589 60 7493

Note 1: All the above figures refer to personal administrations under the Bankruptcy Act only (and not corporate insolvency).

Note 2: Provisional statistics are correct at the date of compilation. Verified annual figures for all types of personal insolvency administrations are available from the Annual Report.

 

Key points

  • The number of debt agreements in the December quarter 2013 is the highest number on record in a quarter. The proportion of debtors entering a business related debt agreement in the December quarter 2013 is the highest proportion recorded since the March quarter 2003.
  • Debt agreements in New South Wales and Queensland in the December quarter 2013 are the highest number on record in a quarter.
  • The increase in debt agreements did not offset falls in bankruptcies and personal insolvency agreements. As a result, total personal insolvency activity fell 4.49% in the December quarter 2013 compared to the December quarter 2012.
  • All three types of personal insolvency increased in the Australian Capital Territory in the December quarter 2013 compared to the December quarter 2012. This was the only state or territory where this occurred.
  • All three types of personal insolvency activity fell in South Australia and Western Australia in the December quarter 2013 compared to the December quarter 2012.

Total personal insolvency activity

Total personal insolvency activity fell 4.49% in the December quarter 2013 (7 493) compared to the December quarter 2012 (7 845) and rose 0.15% compared to the September quarter 2013 (7 482).

The decrease in total personal insolvency activity in the December quarter 2013 compared to the December quarter 2012 was the result of falls in total personal insolvency activity in:

  • Queensland (-5.87%)
  • Western Australia (-16.90%)
  • New South Wales (-2.70%)
  • South Australia (-7.33%)
  • Tasmania (-10.26%)
  • Northern Territory (-6.78%).

These falls were partly offset by rises in:

  • Australian Capital Territory (23.08%)
  • Victoria (0.13%).

The 4.49% fall in total personal insolvency activity in the December quarter 2013 compared to the December quarter 2012 follows an 8.70% fall in the September quarter 2013 compared to the September quarter 2012.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

Total personal insolvency activity December quarter comparison

Bankruptcies

The number of bankruptcies fell 7.89% in the December quarter 2013 (4 844) compared to the December quarter 2012 (5 259) and fell 2.50% compared to the September quarter 2013 (4 968).

The decline in bankruptcies in the December quarter 2013 compared to the December quarter 2012 was the result of decreases in the number of bankruptcies in:

  • Queensland (-12.39%)
  • New South Wales (-8.66%)
  • Western Australia (-14.84%)
  • South Australia (-7.14%)
  • Victoria (-0.10%)

These falls were partly offset by rises in:

  • Australian Capital Territory (14.29%)
  • Tasmania (1.46%)
  • Northern Territory (3.57%)

The 7.89% fall in bankruptcies in the December quarter 2013 compared to the December quarter 2012 follows a fall of 12.70% in the September quarter 2013 compared to the September quarter 2012.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcy December quarter comparison

Debt agreements

The number of debt agreements in the December quarter 2013 is the highest number on record in a quarter. The number of debt agreements increased 3.15% in the December quarter 2013 (2 589) compared to the December quarter 2012 (2 510) and rose 5.29% compared to the September quarter 2013 (2 459).

The increase in debt agreements in the December quarter 2013 compared to the December quarter 2012 was the result of increases in the number of debt agreements in:

  • New South Wales (11.49%)
  • Queensland (8.25%)
  • Australian Capital Territory (30.56%).

These increases were partly offset by falls in:

  • Western Australia (-17.80%)
  • Tasmania (-25.26%)
  • South Australia (-5.88%)
  • Victoria (-0.82%)
  • Northern Territory (-10.34%).

The 3.15% rise in debt agreements in the December quarter 2013 compared to the December quarter 2012 follows a rise of 1.53% in the September quarter 2013 compared to the September quarter 2012.

Debt agreements in Australia: % change compared to same quarter in previous year

Debt agreements December quarter comparison

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.80% of total personal insolvency activity in the December quarter 2013.

The number of personal insolvency agreements decreased 21.05% in the December quarter 2013 (60) compared to the December quarter 2012 (76) and increased 9.09% compared to the September quarter 2013 (55).

The fall in personal insolvency agreements in the December quarter 2013 compared to the December quarter 2012 was the result of decreases in the number of personal insolvency agreements in:

  • New South Wales (-47.83%)
  • Western Australia (-61.54%)
  • South Australia (-60.00%)
  • Tasmania (-100.00%)
  • Northern Territory (-100.00%).

These decreases were partly offset by rises in:

  • Victoria (41.18%)
  • Queensland (14.29%).

The Australian Capital Territory recorded one personal insolvency agreement in the December quarter 2013, up from zero in the December quarter 2012.

The 21.05% fall in personal insolvency agreements in the December quarter 2013 compared to the December quarter 2012 follows a fall of 32.93% in personal insolvency agreements in the September quarter 2013 compared to the September quarter 2012.

Personal insolvency agreements in Australia: % change compared to same quarter in previous year

Personal insolvency agreements December quarter comparison

Sep 2013 Quarter Stats

Provisional personal insolvency activity September quarter 2013

 

State/territory Bankruptcies (Parts IV and XI) Debt agreements (Part IX) Personal insolvency agreements (Part X) Total personal insolvency activity
NSW 1667 864 16 2547
ACT 45 41 0 86
Vic 1018 447 16 1481
QLD 1403 668 14 2085
SA 295 139 1 435
NT 18 20 0 38
WA 391 213 8 612
Tas 131 67 0 198
Total 4968 2459 55 7482 

 

Note 1: All the above figures refer to personal administrations under the Bankruptcy Act only (and not corporate insolvency).

 

Note 2: Provisional statistics are correct at the date of compilation. Verified annual figures for all types of personal insolvency administrations are available from the Annual Report.

 

Key points

 

  • Personal insolvency activity fell 8.70% in the September quarter 2013 compared to the September quarter 2012.

 

  • All states and territories except for Western Australia recorded decreases in total personal insolvency activity in the September quarter 2013 compared to the September quarter 2012.

 

Total personal insolvency activity

 

Total personal insolvency activity declined 8.70% in the September quarter 2013 (7482) compared to the September quarter 2012 (8195) and decreased 1.14% compared to the June quarter 2013 (7568).

 

The decline in total personal insolvency activity in the September quarter 2013 compared to the September quarter 2012 was the result of decreases in total personal insolvency activity in:

 

  • Queensland (-10.28%)
  • New South Wales (-5.74%)
  • Victoria (-9.81%)
  • South Australia (-18.39%)

 

  • Tasmania (-24.43%)
  • Northern Territory (-28.30%)
  • Australian Capital Territory (-8.51%).

 

These falls were partly offset by an increase in:

 

  • Western Australia (4.62%).

 

The 8.70% fall in total personal insolvency activity in the September quarter 2013 compared to the September quarter 2012 follows a 1.39% fall in the June quarter 2013 compared to the June quarter 2012.

 

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

 

Bankruptcies

 

The number of bankruptcies declined 12.70% in the September quarter 2013 (4968) compared to the September quarter 2012 (5691) and decreased 3.57% compared to the June quarter 2013 (5152).

 

The decline in bankruptcies in the September quarter 2013 compared to the September quarter 2012 was the result of decreases in the number of bankruptcies in:

 

  • New South Wales (-11.33%)
  • Queensland (-12.75%)
  • Victoria (-11.25%)
  • South Australia (-28.74%)
  • Tasmania (-17.61%)
  • Western Australia (-4.63%)
  • Northern Territory (-35.71%).

 

The number of bankruptcies in the Australian Capital Territory was stable in the September quarter 2013 compared to the September quarter 2012.

 

The 12.70% fall in bankruptcies in the September quarter 2013 compared to the September quarter 2012 follows a fall of 3.93% in the June quarter 2013 compared to the June quarter 2012.

 

Bankruptcies in Australia: % change compared to same quarter in previous year

 

Bankruptcy September quarter comparison

 

Debt agreements

 

The number of debt agreements increased 1.53% in the September quarter 2013 (2459) compared to the September quarter 2012 (2422) and increased 4.91% compared to the June quarter 2013 (2344).

 

The increase in debt agreements in the September quarter 2013 compared to the September quarter 2012 was the result of rises in the number of debt agreements in:

 

  • New South Wales (8.27%)
  • Western Australia (32.30%)
  • South Australia (24.11%).

 

These increases were partly offset by decreases in:

 

  • Tasmania (-33.66%)
  • Queensland (-4.43%)
  • Victoria (-6.49%)
  • Australian Capital Territory (-16.33%)
  • Northern Territory (-16.67%).

 

The 1.53% rise in debt agreements in the September quarter 2013 compared to the September quarter 2012 follows a 5.68% rise in the June quarter 2013 compared to the June quarter 2012.

 

Debt agreements in Australia: % change compared to same quarter in previous year

 

Debt agreements September quarter comparison

 

Personal insolvency agreements

 

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.74% of total personal insolvency activity in the September quarter 2013.

 

The number of personal insolvency agreements declined 32.93% in the September quarter 2013 (55) compared to the September quarter 2012 (82) and declined 23.61% compared to the June quarter 2013 (72).

 

The decline in personal insolvency agreements in the September quarter 2013 compared to the September quarter 2012 was the result of decreases in the number of personal insolvency agreements in:

 

  • New South Wales (-33.33%)
  • South Australia (-85.71%)
  • Western Australia (-42.86%)
  • Queensland (-17.65%)
  • Tasmania (-100.00%)
  • Northern Territory (-100.00%)
  • Victoria (-5.88%).

 

There was no change in the number of personal insolvency agreements in the Australian Capital Territory in the September quarter 2013 compared to the September quarter 2012.

 

The 32.93% fall in personal insolvency agreements the September quarter 2013 compared to the September quarter 2012 follows a 23.40% fall in personal insolvency agreements in the June quarter 2013 compared to the June quarter 2012.

Jun 2013 Quarter Stats

Key points

  • Personal insolvency activity increased in the June quarter 2013 compared to the March quarter 2013:
    • bankruptcies recorded the strongest quarterly increase since the June quarter 2008.
    • personal insolvency agreements recorded the strongest quarterly increase since the September quarter 2011.
  • Victoria, South Australia, Australian Capital Territory and Northern Territory recorded increases in total personal insolvency activity in the June quarter 2013 compared to the June quarter 2012.

Total personal insolvency activity

Total personal insolvency activity declined 1.39% in the June quarter 2013 (7 568) compared to the June quarter 2012 (7 675) and increased 4.91% compared to the March quarter 2013 (7 214).

The decline in total personal insolvency activity in the June quarter 2013 compared to the June quarter 2012 was the result of decreases in total personal insolvency activity in:

  • New South Wales (-7.75%)
  • Queensland (-3.55%)
  • Tasmania (-15.89%)
  • Western Australia (-2.50%).

These falls were partly offset by increases in:

  • Victoria (7.23%)
  • South Australia (14.67%)
  • Australian Capital Territory (60.56%)
  • Northern Territory (70.37%).

The 1.39% fall in total personal insolvency activity in the June quarter 2013 compared to the June quarter 2012 follows an 11.11% fall in the March quarter 2013 compared to the March quarter 2012.

Total personal insolvency activity in Australia: % change compared to same quarter in previous year

 

Bankruptcies

The number of bankruptcies declined 3.93% in the June quarter 2013 (5 152) compared to the June quarter 2012 (5 363) and increased 7.92% compared to the March quarter 2013 (4 774).

The decline in bankruptcies in the June quarter 2013 compared to the June quarter 2012 was the result of decreases in the number of bankruptcies in:

  • New South Wales (-10.76%)
  • Queensland (-4.61%)
  • Tasmania (-19.19%)
  • Western Australia (-2.75%).

These falls were partly offset by rises in:

  • Victoria (3.63%)
  • South Australia (7.88%)
  • Australian Capital Territory (87.50%)
  • Northern Territory (43.75%).

The 3.93% fall in bankruptcies in the June quarter 2013 compared to the June quarter 2012 follows a fall of 13.98% in the March quarter 2013 compared to the March quarter 2012.

Bankruptcies in Australia: % change compared to same quarter in previous year

Bankruptcy June quarter comparison

Debt agreements

The number of debt agreements increased 5.68% in the June quarter 2013 (2 344) compared to the June quarter 2012 (2 218) and declined 1.35% compared to the March quarter 2013 (2 376).

The increase in debt agreements in the June quarter 2013 compared to the June quarter 2012 was the result of rises in the number of debt agreements in:

  • Victoria (16.50%)
  • South Australia (48.10%)
  • Australian Capital Territory (39.47%)
  • Northern Territory (109.09%)
  • Western Australia (2.76%).

These falls were partly offset by increases in:

  • Tasmania (-8.24%)
  • Queensland (-0.31%).

There was no change in the number of new debt agreements in New South Wales in the June quarter 2013 compared to the June quarter 2012.

The 5.68% rise in debt agreements in the June quarter 2013 compared to the June quarter 2012 follows a 4.23% fall in the March quarter 2013 compared to the March quarter 2012.

Debt agreements in Australia: % change compared to same quarter in previous year

 

Personal insolvency agreements

Personal insolvency agreement activity shows higher volatility than bankruptcies and debt agreements due to the smaller numbers recorded each quarter. Personal insolvency agreements comprised 0.95% of total personal insolvency activity in the June quarter 2013.

The number of personal insolvency agreements declined 23.40% in the June quarter 2013 (72) compared to the June quarter 2012 (94) and rose 12.50% compared to the March quarter 2013 (64).

The decline in personal insolvency agreements in the June quarter 2013 compared to the June quarter 2012 was the result of decreases in the number of personal insolvency agreements in:

  • Western Australia (-56.25%)
  • New South Wales (-27.59%)
  • Queensland (-27.78%)
  • Tasmania (-100.00%)
  • South Australia (-33.33%).

These falls were partly offset by an increase in Victoria (7.69%).

There were no changes in the number of personal insolvency agreements in the Australian Capital Territory and the Northern Territory in the June quarter 2013 compared to the June quarter 2012.

The 23.40% fall in personal insolvency agreements the June quarter 2013 compared to the June quarter 2012 follows a 24.71% fall in personal insolvency agreements in the March quarter 2013 compared to the March quarter 2012.