A recet report from the University of Melbourne’s Centre for Corporate Law and Securities Regulation has found an increase in the bankruptcy rate of 6% from 2008-2009 (no suprise for readers of this blog).
The co-authore Professor Ian Ramsay has said the unsastainable home loans have been a major cause for bankruptcy in the middle class. He also said there was a similar trend in the number of people on higher incomes declaring bankruptcy.
“More and more people are declaring bankruptcy coming from what we call higher occupation positions” he said.
