48 declare bankruptcy in dire last quarter

Financial issues have plagued the region.
Financial issues have plagued the region. Highwaystarz-Photography

BUNDABERG residents continue to struggle to pay off their debts as new figures reveal the number of locals falling into financial despair.

The number of people who became insolvent between October and December last year dropped to 42, down from 44 in the September quarter.

The Australian Financial Security Authority data shows the total number of insolvencies in Bundaberg for the last quarter sat at 48, down from 51 in the previous quarter.

Six of those insolvencies were business related.

All up, 31 locals faced bankruptcy, down from 34 in the September quarter but 17 people secured debt or personal insolvency agreements.

It was a lot worse in Townsville where 99 people filed for bankruptcy in the December quarter and Mackay had 87 fall into financial ruin, while Gladstone (25) Hervey Bay (24) and Maryborough (18) fared better.

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Topics:  bankruptcy bundaberg moneysmart

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