CRUNCH TIME: Bankruptcy figures increase in Bundaberg.
CRUNCH TIME: Bankruptcy figures increase in Bundaberg. contributed

Bankruptcy rates on the up in Bundy

A TOTAL 32 bankruptcies were filed in Bundaberg throughout the October to December quarter.

The latest report released by the Australian Financial Security Authority recorded 28 non-business and four business insolvencies in the region over the three-month period, up one case from last quarter.

Gladstone also showed an increase in declared bankruptcies, totalling a staggering 58 insolvencies for the December quarter, up three cases from September's figures.

The figures come as financial desperations were addressed in the Bundaberg Magistrates Court last week.

Last week the NewsMail reported Bundaberg mother Lisa Monk's attempt to hold up a fish and chip shop after monetary tensions reached an all-time high.

The court heard Monk had planned the robbery weeks in advance, even going so far as to take in a "robber's pack” made up of a pillow case filled with zip-lock ties, masking tape and a "closed” shop sign.

Monk's defence told the court how the former occupational therapist's failing marriage, mental health and monetary woes had led to things getting "out of hand”, to which the judge did not give weight.

The judge said a number of people in the community faced financial stress, worse than that of Monk, yet still did not commit offences as serious as armed robbery.

The AFSA website offers information for those struggling with unmanageable debt.

"There are people who can help you look at all your options before you make a final decision,” the website reads.

"At AFSA, we manage the bankruptcy of individuals.

"A financial counsellor can help you through this process... talk to you about your options and may talk to your creditors on your behalf... to help with budgeting and refer you to other sources of assistance.”

For more information on bankruptcy and insolvency visit the AFSA website at http://bit.ly/2GzG5oy.



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