PIPA Newsletter Summer Edition 2023 restore&prosper

"Restore and Prosper" encapsulates the essence of PIPA

Welcome to the much-anticipated inaugural issue of the Personal Insolvency Professionals Association (PIPA) biannual newsletter, "Restore and Prosper."

As weembark on this journey together, I am thrilled to unveil a name that resonates deeply with our mission—to breathe new life into individuals' financial situations and guide them towards prosperity.

Before we delve into the exciting content, I want to extend our heartfelt gratitude to our valued major sponsors, Jirsch Sutherland and Bravure.

We are honoured to feature contributions from esteemed leaders in the field of personal insolvency, including insights from Tim Beresford, CEO of AFSA, and perspectives from Bettina Cooper, Financial Counsellor at Mob Strong.

3 min

Building confidence through connection at the AFSA Inaugural Summit... A direct link to the summit wrap up by Tim Beresford, CEO

3 min

Why do people go bankrupt?

Firstly, if you slice and dice data from AFSA, the majority of those declaring bankruptcy aren’t failed corporate entrepreneurs, but rather they come from relatively modest socio-economic backgrounds. In AFSA’s August 2023 statistics on new personal insolvencies, those declaring bankruptcy came from sectors including construction; healthcare and social assistance; retail; transport, postal and warehousing sectors; and administrative and support services.

3 min

Comparision of the Australian and UK insolvency markets

We have developed the below visual to provide a simplified conceptual representation of the various cohorts of customers who may seek to utilise a formal insolvency mechanism (ranging from those with a complete debt repayment orientation through to those with a complete debt relief orientation, as well as those with substantial capacity to repay through to those with minimal capacity to repay) and which presently available tools are most closely aligned to the various portions of this customer spectrum.

5 min

Women in Insolvency, WIRV is a not for profit professional organisation, which through a female executive, connects, empowers and contributes to its members, the insolvency industry and the wider community.

5 min

‘Building financial security through financial capability’ Financial stress affects one in two Aboriginal and Torres Strait Islander people; Improving. Financial Support for Aboriginal and Torres Strait Islander Communities.

"Restore and Prosper" encapsulates the essence of PIPA

Inside this issue

Why do people go bankrupt?

Comparision of the Australian and UK insolvency markets