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Increase in Scottish personal insolvencies 25/04/2019 Provisional estimates from Accountant in Bankruptcy show that in 2018-19 personal insolvencies in Scotland increased by 20.5%

Increase in Scottish personal insolvencies

Provisional estimates from Accountant in Bankruptcy (AiB) show that in 2018-19 personal insolvencies in Scotland increased by 20.5% to 12,779, up from 10,602 in 2017-18. The final figures will be published in July.

According to the statistics, which cover the fourth quarter (January to March 2019) of 2018-19 and provisional estimates for the 2018-19 financial year, personal insolvencies (bankruptcies and protected trust deeds (PTDs)) rose for the third consecutive year but remain below levels seen between 2006-07 and 2013-14.

The increase in personal insolvencies in 2018-19 was due to PTDs, which increased by 32.9% on the previous year.

In 2018-19, there were 2,544 debt payment programmes (DPPs) approved under the Debt Arrangement Scheme (DAS), 226 more than a year earlier. In 2018-19, £37.1 million was repaid from debtors under DAS compared with £37.6 million in 2017-18.

The statistics also show that corporate insolvencies increased from 884 in 2017-18 to 966 in 2018-19.

Further details can be found here.

The statistics are available here.

 

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