Baldivis records highest number of bankruptcies in Australia

Baldivis records highest number of bankruptcies in Australia

BALDIVIS has recorded the highest number of bankruptcies in Australia.

A survey by data registry and analytics business Illion found Baldivis had 105 personal bankruptcies in 12 months (the 2018 financial year).

Baldivis recorded an 11.7 per cent increase from the previous financial year.

Illion combined official bankruptcy data with its data matching capabilities to analyse the financial health of Australians.

Baldivis MLA Reece Whitby said help was available to families facing the threat of personal bankruptcy.

“It’s always better to seek help early if you’re facing a financial crisis,” he said.

“Personal bankruptcies in Baldivis are a major concern.

“The downturn in mining and resources has hit our suburb hard.

“Families starting out with a mortgage and young kids are particularly vulnerable.

“The numbers also reflect the fact Baldivis is a large suburb with a high proportion of new home buyers.”

Mr Whitby said the State Government had committed more than $7 million over the next four years to reinstate financial counselling services across the Perth Metropolitan area.

“I urge anyone who finds themselves in financial stress to contact one of these services sooner rather than later,” Mr Whitby said.

Residents who need help managing their finances or dealing with debt should call the Consumer Credit Legal Service WA Advice line on 9221 7066.

For Financial Counselling services provided by Anglicare WA in Rockingham call 9528 0702.

The National Debt Helpline is also available on 1800 007 007.