Personal Bankruptcies are down on prior figures
Personal bankruptcy activity declined in the December 2011 quarter by approximately 4%.
During the December quarter 7689 people either became bankrupt, or entered Part IX debt agreements or Part X insolvency agreements.
According to the latest information provided by ITSA (Insolvency and Trustee Services Australia) there were 8012 individuals declaring bankruptcy or entering some kind of a debt agreement during the September quarter.
The December figure is a reduction of two per cent on the December quarter in 2010.
In terms of annual statistics, bankruptcies were down four per cent year on year, while Part IX agreements were up 2.9 per cent, and Part X agreements were down 3.4 per cent.
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