Personal and corporate Scottish insolvency rates climb – Accountancy Daily

Personal insolvencies totalled 12,779 from 10,602 in 2017-18. Estimates for 2018-19 are provisional until final figures are published on 24 July 2019.

Most of the increase was down to protected trust deeds (PTDs), which increased by 32.9% on the previous year, reaching 7,917 compared to 5,958 in 2017-18.

Overall, the number of bankruptcies and PTDs rose for the third consecutive year but remain below levels seen between 2006-07 and 2013-14.

In 2018-19, there were 2,544 debt payment programmes (DPPs) approved under the debt arrangement scheme (DAS), 226 more than a year earlier, an increase of 9.7%. In 2018-19, 37.1m was repaid from debtors under DAS compared with 37.6m in 2017-18.

DAS allows those in the scheme the opportunity to repay t…

Read the full article at: https://www.accountancydaily.co/personal-and-corporate-scottish-insolvency-rates-climb

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