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Downward trend in personal insolvencies continues 23/04/2014 New figures from the Accountant in Bankruptcy (AiB) show that personal insolvencies in Scotland are down again this quarter.

Downward trend in personal insolvencies continues

New figures from the Accountant in Bankruptcy (AiB) show that personal insolvencies in Scotland are down again this quarter.

The statistics show personal and company insolvencies in Scotland for the fourth quarter of 2013-14. They reveal that personal insolvencies have fallen 10.1% on the previous quarter and 14% on the same quarter of the previous year. The longer term trend shows a general decline since 2008-09.

This reduction in personal insolvencies is due to a sharp fall in the number of protected trust deeds (PTDs), says the AiB. These fell 24% on the previous quarter and are also 23% lower than the total recorded in the corresponding quarter of the previous year.

Bankruptcies increased, however, rising 3.9% on the previous quarter, although the total was still 5.9% lower than the number awarded in the same quarter of the previous year.

Turning to company insolvencies, AiB received 244 notices in the fourth quarter of 2013/14 - a 6.6% increase on the previous quarter and a 70.6% increase on the same quarter of the previous year.

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