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Coffs Harbour bankruptcies are on the rise

A total of 39 Coffs Harbour residents and businesses declared bankruptcy or entered into debt within three months.
A total of 39 Coffs Harbour residents and businesses declared bankruptcy or entered into debt within three months. AntonioGuillem

IN WHAT appears to be a worrying upward trend, a total of 39 Coffs Harbour residents and businesses declared bankruptcy or entered into debt within three months.

According to the latest Australian Financial Security Authority statistics, a total of 34 Coffs residents became debtors or declared bankruptcy between October to December last year.

During this time five local businesses also entered debt or declared bankruptcy.

In the three months prior, from July to September, there was an overall total of 30. From April to June there was 28.

Neighbouring region Clarence Valley saw a total of 12 debtors and bankruptcies in the three month period ending December, while Kempsey to Nambucca saw 10.

The region with the highest number of debtors in NSW was Campbelltown with 91.

Number of those who entered debt or declared bankruptcy between October-December (NSW excluding Sydney):

Wyong - 80

Gosford - 74

Newcastle - 51

Lower Hunter - 41

Wagga Wagga - 40

Coffs Harbour - 39

Tamworth-Gunnedah - 35

Port Macquarie - 35

Topics:  australian financial security authority bankruptcies coffs harbour debt insolvency



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