Personal insolvencies have risen over 10 per cent in the past year across the nation with Western Australia suffering the most, government figures show.
The Australian Financial Security Authority said there were 7900 new insolvencies in the March quarter, covering bankruptcies and debt agreements, with a record 928 posted in WA.
The most common cause for business-related insolvencies was economic conditions (392 debtors), while excessive use of credit was blamed as the most common non-business related insolvency (2387 debtors).
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