AFSA unveils current personal insolvency trends, insights

Notwithstanding the current economic climate and subdued consumer conditions, the Australian Financial Security Authority (AFSA) has revealed a sharp drop in the number of personal insolvencies since 2017, citing changed creditor behaviour in the wake of the Hayne Royal Commission in 2017, changed debtor behaviour in the wake of the pandemic, and decreased unemployment levels as the main drivers.

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