Accountant in Bankruptcy has published its latest figures which indicate that there were 549 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in August 2020, 628 (53.4%) fewer than in August 2019.

Bankruptcy numbers decreased by 47.6% in August 2020 when compared with August 2019.

Whilst PTDs decreased by 56.7% over the same period.  There were 232 approved Debt Payment Programmes (DPPs) under Debt Arrangement Scheme in August 2020 compared with 241 for August 2019, a decrease of 3.7%.

There were 6,345 personal insolvencies in the year to the end of August 2020, 2,860 (31.1%) fewer than in the same period the year before.

Bankruptcies decreased by 39.3% in the year to the end of August 2020 when compared with the same period the year before.

Meanwhile, PTDs decreased by 26.5% over the same period.

There were 2,130 approved DPPs under Debt Arrangement Scheme in the year to the end of August 2020 compared with 1,829 for the same period the year before, an increase of 16.5%