Personal insolvencies hit Wanneroo hard

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Australian Financial Security Authority statistics show there were 117 new debtors in the City of Wanneroo who went bankrupt in the March quarter.

THERE were 117 new personal insolvencies in the City of Wanneroo during the March quarter as residents struggle to pay their debts.

This was three more than during the months of October, November and December last year  when 114 people were declared bankrupt in the City of Wanneroo.

The Australian Financial Security Authority (AFSA) statistics were released prior to the city holding its 2018 Wanneroo Jobs Summit in Mindarie on Thursday, June 7.

The city said it was aiming to create 100,000 jobs.

Yanchep News Online reported in Bankruptcy increase in Alkimos and Yanchep, March 4 that Alkimos and Yanchep had been identified as suburbs where residents were facing high levels of financial stress including bankruptcy.

On February 12 the McGowan Government announced free financial counselling services would be boosted for Western Australians struggling to pay their bills in high-need areas, which included Alkimos and Yanchep.

AFSA statistics showed there were 826 debtors who entered a new personal insolvency in Greater Perth in the 2018 March quarter.

This number rose by 50 debtors or 6.4 per cent from the December quarter last year.

Greater Perth accounted for 78.6 per cent of all new debtors in Western Australia in the March quarter this year.

There were 158 debtors who entered a new business-related personal insolvency in Greater Perth in the March quarter 2018.

This number did not change from the December quarter 2017.

The biggest numbers of debtors entering a business-related personal insolvency in Greater Perth in the March quarter 2018 were in Wanneroo (23 debtors), Stirling (15 debtors), Cockburn (12 debtors), Gosnells (12 debtors), Joondalup (12 debtors) and Rockingham (12 debtors).

If you have unmanageable debt a financial counsellor can help you through this process.

They can talk to you about your options and may talk to your creditors on your behalf and help with budgeting and refer you to other sources of assistance.

In March Department of Communities commissioning and governance acting executive director Jacqui Herring said the Financial Counselling Network, led by UnitingCare West and Anglicare WA, involved a consortium of 16 community services organisations working together to deliver financial counselling services in 25 locations across the metropolitan area.

https://www.yanchepnewsonline.com.au/bankruptcy-increase-alkimos-yanchep/