Govt, Schools Misusing Bankruptcy: ACA Report
Update: 2025-12-13
Description
New figures reveal a troubling trend: government agencies and strata bodies are now responsible for over a quarter of all forced bankruptcies, with private schools increasingly using this measure to recover unpaid debts. The Australian Taxation Office, strata schemes, and non-bank business lenders are the top creditors, accounting for double-digit percentages of cases. Financial Counselling Australia advocates for an increase in the bankruptcy threshold to twenty thousand dollars, arguing that the current system is outdated and being used too frequently, particularly in sectors with minimal consumer protections.
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