Big spike in Rocky businesses going bankrupt
THE number of Rockhampton debtors with a business related insolvency jumped from eight in the September quarter, 2016, to 18 in the December quarter, according to new figures released by the Australian Government Financial and Security Authority (AFSA).
The latest AFSA numbers for the last quarter of 2016 paint a grim picture for Rockhampton businesses during that period with a more than doubling of insolvencies registered.
This was the second worst result in the state, only surpassed by Townsville which had 20 insolvencies.
In comparison, Mackay's business insolvency number was 14.
Statewide, there has been a downward trend in the number of business insolvencies with the number of debtors dropping 14 per cent from 459 to 395.
Toowoomba was the main contributor to this fall.
The number of debtors with an insolvency that non-business related or not stated has remained steady between the September and December quarters in both Rockhampton (58) and Mackay (73).
Non-business related insolvencies dropped 7 per cent in Queensland from 1,866 to 1,734 during this time.
If you have an unmanageable debt and need help to work out what to do, there are people who can help you look at all your options before you make a final decision.
A financial counsellor can help you through this process and talk to you about your options and may talk to your creditors on your behalf as well as offer help with budgeting and refer you to other sources of assistance.