Personal bankruptcies across Australia are at an eight-year high according to recently released research on the last financial year.
More than 32,000 Australians declared bankruptcy, and experts are warning that a combination of rising debt, stagnant wage growth and falling house prices could herald more bad news.
Queensland had the highest number of bankruptcies in the country, with more than 9,415 people declaring personal bankruptcy in the Sunshine State over the past year, but the rate of increase did slow to 1.5 per cent.