Men dominating personal insolvency stats: AFSA

AFSA's latests stats on the distribution of gender in personal insolvencies

STATISTICS on gender released by the Australian Financial Security Authority (AFSA) today indicate that males continue to dominate the ranks of the insolvent.

According to AFSA, in 2014, 58% of people who entered into a personal insolvency were male, the highest proportion in this category of insolvent debtors in six years. Further:

• 54% of debt agreement debtors were male;
• 70% of personal insolvency agreement debtors were male;

AFSA also found that males are more likely than females to enter a business related personal insolvency. The proportion of debtors who entered a business related personal insolvency has increased compared to 2008:

• From 18% of male debtors in 2008 to 22% in 2014;
• From 9% of female debtors in 2008 to 13% in 2014.

The most common causes of personal insolvency were the same for both males and females in 2014. Where their insolvency was business related, most debtors of either gender attributed their personal insolvency to difficult economic circumstances.

For the detailed statistics see: Gender of Insolvent Debtors.

Email SiN