New Zealand personal bankruptcies down 5.1% in FY2018
Just over 3,300 individuals declared bankruptcy across New Zealand during the 2018 financial year, according to illion’s Personal Bankruptcy Analysis. The 5.1 per cent annual drop indicates consumer stress is easing nationwide, although there was a sharp rise among the under-25s.
“While the overall drop in bankruptcies is a good sign, no one takes this decision lightly, so to see young people increasingly turning to bankruptcy or insolvency agreements is cause for concern.”
Simon Bligh, illion CEO