Credit, Collections & Insolvency News
Accountant in Bankruptcy has published its latest figures which indicate that there were 550 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in July 2020, 670 (54.9%) less than in July 2019.
Bankruptcies decreased by 37.1% in July 2020 when compared with July 2019.
PTDs decreased by 63.7% over the same period. There were 237 approved Debt Payment Programmes (DPPs) under Debt Arrangement Scheme in July 2020 compared with 255 for July 2019, a decrease of 7.1%.
There were 5,795 personal insolvencies in the year to the end of July 2020, 2,233 (27.8%) less than in the same period the year before.
Bankruptcies decreased by 38.1% in the year to the end of July 2020 when compared with the same period the year before.
PTDs decreased by 22.2% over the same period. Whilst there were 1,899 approved DPPs under Debt Arrangement Scheme in the year to the end of July 2020 compared with 1,588 for the same period the year before, an increase of 19.6%.