Victoria experienced over 4,400 bankruptcy appointments in 2010/2011 financial year compared to NSW which recorded 8,162 bankruptcy appointments.

For the first time the Insolvency Trustee Service Australia has released statistics based on postcodes for 2010/2011. An analysis of post codes in Victoria reveal that bankruptcy hot spots in Victoria recorded nearly half the number of bankruptcy appointments compared to the bankruptcy hot spots in NSW which would suggest certain areas in NSW were more vulnerable to bankruptcies. The worst hit areas were south of Melbourne:

Botanic Ridge & Cannons Creek surrounds (Post Code 3977) (98 Bankruptcies)
Frankston & Frankston Heights surrounds (Post Code 3199) (87 Bankruptcies)
Hoppers Crossing & Tarneit surrounds (Post Code 3029) (67 Bankruptcies)
Werribee & Cocoroc surrounds (Post Code 3030) (57 Bankruptcies)
Fountain Gate & Narre Warren surrounds (Post Code 3805) (56 Bankruptcies)
Belmont & Grovedale surrounds (Post Code 3216) (54 Bankruptcies)
Ballarat surrounds (Post Code 3350) (53 Bankruptcies)
Donnybrook & Craigieburn surrounds (Post Code 3064) (53 Bankruptcies)
Mildura surrounds (Post Code 3500) (52 Bankruptcies)
Pakenham & Rythdale surrounds (Post Code 3810) (51 Bankruptcies)
Wodonga surrounds (Post Code 3690) (50 Bankruptcies)
Even some of Melbourne’s more affluent suburbs also experienced bankruptcy appointments with postcode 3142 which includes Toorak and South Yarra had 12 bankruptcy appointments followed by postcode 3101 which includes Kew had 11 bankruptcy appointments. Even post code 3144 which includes Malvern had 5 bankruptcy appointments.

If you are considering bankruptcy in Victoria and would like to seek professional guidance before you file for bankruptcy please call our bankruptcy experts today on 1800 462 767. We are experts at voluntary bankruptcy applications in Victoria.