Consumer bankruptcies: causes and implications for the credit industry

Kumar, Jaynendra and Mason, Rosalind and Ralston, Deborah (1998) Consumer bankruptcies: causes and implications for the credit industry. Economic Papers, 17 (3). pp. 18-27. ISSN 0812-0439

Abstract

Personal bankruptcies in Australia have hit an all-time high. In the fiscal year 1996/97, 21,830 persons filed for bankruptcy, an increase of 26% over the previous year. The vast majority of bankruptcies arose from debtors' as opposed to creditors' petitions, exhibiting an increase from 81% in 1986 to 91% in 1997 (ITSA 1998). Of the total bankruptcy figure, 5191 or 24% were business' related while the rest were non-business or consumer bankruptcies.
The significant rise in bankruptcy rates can therefore
be attributed to consumer bankruptcy.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Published version made not accessible
Faculty / Department / School: Historic - Faculty of Business - Department of Law
Date Deposited: 30 Nov 2007 11:47
Last Modified: 03 Jul 2013 00:19
Uncontrolled Keywords: insolvency; Australia; consumers; business debt
Fields of Research : 16 Studies in Human Society > 1604 Human Geography > 160401 Economic Geography
14 Economics > 1401 Economic Theory > 140104 Microeconomic Theory
18 Law and Legal Studies > 1801 Law > 180105 Commercial and Contract Law
Socio-Economic Objective: E Expanding Knowledge > 97 Expanding Knowledge > 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
URI: http://eprints.usq.edu.au/id/eprint/13767

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