Which state is going bankrupt?

February 19, 2014, 11:05 amYahoo7

The latest data shows that bankruptcies and debt have surged in one state.

Photo: Getty

The latest personal insolvency report from the Australian Financial Security Authority shows that more people in the ACT are struggling with money, with personal bankruptcies surging almost 28 per cent and debtors increasing 19 per cent.

Queensland, however, still maintains the highest ratio of bankrupts, with one bankrupt for every 516 adults.

Wondering how other states did? Here's our state-by-state breakdown.

Australian Capital Territory

The number of bankrupts in the ACT jumped 27.6 per cent, from 170 to 217. This equates to one bankrupt for every 1,200 adults. The most bankrupts were in Tuggeranong, Belconnen and Gungahlin.

A growing number of ACT residents appear to be finding themselves in financial difficulty, with a 19 per cent increase in the number of debtors with debt agreements.

Photo: Getty

New South Wales

The number of bankrupts in NSW fell 10.8 per cent from 7,874 to 7,024, a ratio of one bankrupt to 755 adults. The postcodes with the most bankrupts were in Blacktown, Outer South West and South West. Debt agreement debtors increased by 4.6 per cent.

Photo: Getty

Northern Territory

Personal insolvencies in the Northern Territory soared 32.5 per cent, from 77 to 102, or one bankrupt to 1,507 people. Debt agreement debtors also increased by a massive 82.1 per cent, from 56 to 102.

Photo: Getty


Bankruptcies declined by 3.3 per cent in Queensland, from 6,544 to 6,331 – a ratio of one bankrupt to 516 people. The postcodes with the highest number of personal insolvencies were all located in the Gold Coast.

On the other hand, debt agreement debtors saw a significant 8.3 per cent increase from 2,477 to 2,691.

Photo: Getty

South Australia

The number of bankrupts in SA was almost flat, falling 0.4 per cent from 1,581 to 1,574. This equates to one bankrupt for every 790 adults. The three postcodes with the most personal insolvencies were all located in North Adelaide.

Debt agreement debtors saw a 34.5 per cent jump, from 359 to 483.

Photo: Getty


Personal insolvencies dropped by 17.6 per cent in Tasmania, from 717 to 591, or a ratio of one bankrupt to 643 people.

Debt agreement debtors moved in the opposite direction, increasing 15.4 per cent from 292 to 337.

Photo: Getty


Bankrupts in Victoria dropped 0.7 per cent from 4,333 to 4,301, but Greater Melbourne saw a slight increase of 0.5 per cent. There is one bankrupt in Victoria for every 963 people. The three postcodes with the highest number of bankrupts were located in Melbourne and the Mornington Peninsula.

Debt agreement debtors jumped 5.4 per cent from 1,753 to 1,848.

Photo: Getty

Western Australia and Other Territories

Personal insolvencies fell 7.2 per cent, from 1,653 to 1,534, a ratio of one bankrupt to 1,111 people. The highest numbers of bankrupts were in Mandurah, Bunbury and North West Perth.

Debt agreement debtors also fell slightly, dropping 0.3 per cent from 771 to 769.

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