News
12 October, 2025
Rise in personal insolvencies
Australia recorded a modest rise in new personal insolvencies in 2024–25, according to fresh figures from the Australian Financial Security Authority (AFSA).
A total of 12,257 people entered insolvency, up 5.3 per cent from 11,644 in the previous financial year.
Insolvency numbers increased in New South Wales, Victoria, Queensland, Western Australia and Tasmania, but fell in South Australia, the Northern Territory and the ACT.
Business-related insolvencies also climbed, making up 28.8 per cent of all cases, compared with 26.2 per cent the year before.
AFSA Chief Executive and Inspector-General in Bankruptcy, Tim Beresford, said that despite the slight increase, insolvencies remained well below historic levels.
“While Australian households continued to experience financial pressures in 2024–25, personal insolvencies remained near their historic lows,” he said.
Mr Beresford noted that a shift in creditor and debtor behaviour, combined with low unemployment, had reduced insolvencies from around 32,000 eight years ago to current levels.
AFSA has also stepped up regulatory oversight. He urged Australians in financial distress to seek early assistance.
Of the total insolvencies, 6,930 were bankruptcies, 5,093 debt agreements, 210 personal insolvency agreements and 24 insolvent deceased estates.
