Canberra leads the nation in rising rates of bankruptcy

johnboy 4 July 2009 2

The Canberra Times reports that Canberrans, despite our rosy local employment figures, are going bankrupt at higher rates than last year.

    New figures from the Insolvency and Trustee Service reveal a 50 per cent rise in bankruptcies in year-on-year comparisons of the June quarter.

    Between April and June this year, 66 Canberrans declared either personal or business bankruptcy, up from 44 cases in the June quarter of 2008 the highest percentage rise in the country.

    The number of bankruptcies over 2008-09 also rose sharply to 245, up from 214 in 2007-08, a 15 per cent rise and the second highest rate in the country after WA, which saw bankruptcies rise by 17 per cent.

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2 Responses to Canberra leads the nation in rising rates of bankruptcy
VYBerlinaV8_the_one_they_all_copy VYBerlinaV8_the_one_they_all_copy 8:37 am 06 Jul 09

This just goes to show that there is a very small percentage of the population that either
a) has a high risk appetite, or
b) can’t manage money for crap.

LG LG 8:34 am 06 Jul 09

From memory (several years ago), the ACT figures include insolvencies from Queanbeyan / ACT region as the figures were based on where the paperwork is lodged. Not sure if this is still the case though.

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