During the 2018 financial year, 32,350 Australians declared themselves bankrupt.
Out of any state or territory across the country Queensland recorded the highest number of bankruptcies increasing by 1.5 per cent from last year.
Five suburbs on the top 10 list came from Queensland, these including Upper Coomera, Morayfield, Pimpama, Caboolture and Redbank Plains.
Many of these suburbs reported to include a high number of young families.