Personal insolvencies increase 20% in one year – Isle of Wight County Press

The number of people in Scotland being declared insolvent rose by more than 20% in a year, new figures indicate.

Accountant in Bankruptcys provisional estimates show personal insolvencies increased 20.5% from 10,602 to 12,779 between 2017/18 and 2018/19.

The increase was driven by a type of insolvency agreement called a protected trust deed, which rose 32.9% on the previous year.

The number of bankruptcies were up 5% in the same period.

Statistics for the first three months of 2019 show personal insolvencies rose 29% compared to the same period the previous year, and were up 2% on October to December 2018.

Meanwhile, corporate insolvencies also increased, up 9% from 884 in 2017/18 to 966 in 2018/19.

The number of businesses going bust r…

Read the full article at: https://www.countypress.co.uk/news/national/17593986.personal-insolvencies-increase-20-in-one-year/

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