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Single men are biggest bankruptcy risk,[link widoczny dla zalogowanych]
The Insolvency and Trustee Service Australia (ITSA) report says the most common age for declaring insolvency is 40 to 44 years,[link widoczny dla zalogowanych], with the most of declarations by single men.
"The chronilogical age of bankrupts has consistently increased since 2003,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], with the proportion of bankrupts aged 18 to 39 declining and people aged 40 and over increasing,[link widoczny dla zalogowanych]," the report said.
Released every two years,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], it said there were 23,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych],125 bankrupts this year,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], of whom 57 percent were men,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], with 40 percent of those single and 29 per cent in their 40s.
The main drivers of personal bankruptcy were loss of work or income or unneccessary use of credit facilities,[link widoczny dla zalogowanych], while business-related bankruptcies were mostly down to economic conditions.
Around 48 per cent of bankrupts earned more than $30,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych],000,[link widoczny dla zalogowanych], and 80 percent of personal insolvency debtors earned a minimum of that amount.
The report said 27 percent of bankrupts owed a minimum of $100,[link widoczny dla zalogowanych],000,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], while 69 percent of private insolvency debtors owed at least that amount.
Banks were owed the largest share of personal debt - 41 percent when it comes to bankrupts,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], 58 per cent for debt agreement debtors and 25 per cent for personal insolvency debtors.
Credit cards taken into account 21 percent of bankrupts' personal debt, 18 percent of private insolvency agreement debt and a record 58 per cent of debt agreement debt.
A debt agreement assists debtors with unmanageable debt,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], while an insolvency agreement is really a flexible way for a debtor to come to a contract with creditors without going bankrupt. |
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