Accountant in Bankruptcy (AIB) has published Scotland’s latest Insolvency figures. The provisional number of personal insolvencies in Scotland increased by 1,484 or 18% to 9,958 in 2016-17 when compared with 2015-16. Estimates for 2016-17 are provisional until final figures are published in July 2017.
The number of personal insolvencies (bankruptcies and protected trust deeds (PTDs)) increased in 2016-17 but were at the second lowest level since 2005-06. There were 5,473 PTDs registered in 2016-17, a 16% increase on the previous year.
In 2016-17, there were 2,232 debt payment programmes (DPPs) approved under the Debt Arrangement Scheme (DAS), a similar level to the 2,041 approved in 2015-16. In 2016-17, £37.3 million was repaid from debtors to creditors (minus fees) under DAS, similar to the £38.0 million repaid in 2015-16.
There were 840 corporate insolvencies in Scotland in 2016-17, 63 fewer than a year earlier. There were 1,112 bankruptcies awarded during this quarter, a 8.2% increase on the same quarter in 2015-16. The number of PTDs increased by 13% to 1,401 over the same period.
There were 531 DPPs approved under DAS. A total of £9.2 million was repaid through DAS during this quarter, a 2.7% decrease on the quarter in the previous year.