28 residents declare bankruptcy, go into debt
A TOTAL of 28 Coffs Harbour residents have declared bankruptcy or have gone into debt within three months.
The Australian Financial Security Authority have released the latest quarterly personal insolvency statistics, revealing the number of residents who became bankrupt or entered debt or a personal insolvency agreement between April 2017-June 2017.
The statistics only include personal insolvencies and not corporate insolvencies.
The number of those who entered a non-business related debt or bankruptcy was 23.
The number of business related incidences was 5.
A total of 13 declared bankruptcy, and 15 entered a debt or personal insolvency agreement.
Those who did not impart the main cause of their insolvency have been listed as non-business related.