The number of Scots becoming insolvent has risen by almost a fifth, amid fears that many more are likely to face financial difficulty this year.
The higher price of food and energy is expected to start biting into consumer spending over the coming months, with few signs that wage growth in Scotland will keep up with inflation.
Provisional statistics from the Accountant in Bankruptcy (AiB) found there were 9,958 individuals who went into personal insolvency in the 12 months to the end of March, an increase of 1,484 18 per cent on the previous year.
The introduction of new legislation during…
Read the full article at: https://www.thetimes.co.uk/edition/scotland/insolvencies-up-a-fifth-as-food-and-energy-prices-set-to-bite-w6bddcb8k