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As 3 million workers to seek career change startups will look to the Bank of Mum & Dad

As 3 million workers to seek career change startups will look to the Bank of Mum & Dad

Photo by Simon Rae on Unsplash

Experts warn insolvencies could spike in coming months due to COVID-19

Battle victory could be close, but the war is not over – experts are warning insolvencies could spike in the coming months and linger for years post-COVID-19.

Last quarter (January to March 2020), personal insolvency rates fell 16.5% on the same quarter last year – the lowest level since the December quarter 1990, according to Australian Financial Security Authority (AFSA) figures.

But that isn’t telling the true story of financial health in the time of coronavirus, various experts are warning, and the biggest negative effects are yet to be seen.


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