| Abstract: | This paper reviews the literature on consumer bankruptcy in Australia and reports on data from a survey of a sample of consumer bankrupts in Melbourne who petitioned for their own bankruptcy. Data on their socio-demographic characteristics, perceived causes of their bankruptcy and the nature of the experience are presented. It was found that: bankrupts tended to be social security recipients with few assets; and ‘non-interventionist’ bankruptcy administration resulted in a fairly benign process which improved the bankrupts' personal and financial affairs. The role of inadequate income support and the lending practices of finance companies are discussed. |
